Insurance Insider is part of the Delinian Group, Delinian Limited, 4 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730
Copyright © Delinian Limited and its affiliated companies 2023

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

December 2017/3

  • Reinsurers look unlikely to achieve a meaningful correction in US property catastrophe reinsurance pricing at 1 January, but will be able to point to a better than expected casualty renewal.
  • It is a universal rule of cinema that movie sequels are always worse than the original.
  • Reinsurance pricing reflects market fundamentals. And that is the story of this renewal to date.
  • In common with their property cat colleagues, US casualty reinsurance underwriters are suffering a late 1 January renewal, with most deals still awaiting firm order terms as of early December.
  • Casualty reinsurers are talking about brokers and clients taking a more "realistic" approach to dynamics in a sector where margins have been squeezed to the point of being unsustainable on many quota share deals.
  • Florida's state-backed insurer is preparing for a challenging 2018 that will see ongoing profitability pressures from assignment of benefits (AOB)-driven non-weather losses and an increase in reinsurance costs.
  • Reading external budget documents is unlikely to be high on the to-do list for reinsurers and brokers entering the frenetic last couple of weeks of a 1.1 renewal season that has run late and proved challenging.
  • The London property binders market is resisting rate decreases on US business at renewal in the wake of losses from the North Atlantic hurricanes.
  • Ogden rate uncertainty is giving reinsurers ammunition on motor excess of loss (XoL) renewals after intervention from a committee of lawmakers threatened to delay promised reforms.
  • UK insurers looking to establish infrastructure-light entities in the EU because of Brexit while servicing them from Britain could face hefty VAT bills, tax experts have warned.
  • At least $3.8bn of new capital has been raised in the space following significant losses from hurricanes Harvey, Irma and Maria (HIM), according to Trading Risk data.
  • Covea Group's first cat bond has settled below the lower end of initial price targets, according to Trading Risk sources.