Issues

Rising claims severity and more than a decade of compounding rate reductions have led carriers in the international professional indemnity (PI) market to reassess their involvement in the class and demand price increases at renewal.

As US casualty treaty market negotiations continue in the build-up to 1 January there is growing evidence that a number of leading reinsurers are exerting downwards pressure on ceding commissions that could drive a shift in pricing dynamics.

Airline insurers are having a better renewal than they have had for a long time. Composite rates are probably up a few points in the aggregate and lead premium is higher too if you squint at it.

After 15 years of downward pricing pressure, underwriters in the airline market finally secured a 3 to 5 percent increase in lead premiums in the key fourth quarter renewals, The Insurance Insider understands.

The slow encroachment of the Canadian pension funds into (re)insurance is one of the phenomena of the prevailing low interest rate environment.

The Canada Pension Plan Investment Board (CPPIB)'s backing of Bermudian reinsurer Ascot Re is a further $1bn commitment to the (re)insurance industry by the pension fund.

An expected hardening in (re)insurance pricing may not be enough to offset pressure from high expenses and lower reserve releases at London market carriers, Fitch Ratings has warned.

For a medium supposed to set people free, it is amazing how the development of the worldwide web has corralled us into various silos.

The first European catastrophe reinsurance renewals have priced, and may point the way towards low single-digit rate increases for international cat accounts at 1 January.

Total disclosed losses from what are set to be the costliest wildfires in Californian history have reached $3.5bn.

PartnerRe posted a $396.8mn increase in non-life reinsurance recoverables during the third quarter, as it sustained $472mn of net losses from hurricanes Harvey, Irma and Maria.

Hannover Re executives said that the firm had exhausted a new multi-territory, multi-peril EUR100.0mn ($117.7mn) aggregate cover as its retro programme responded to third quarter losses.