Rates

Pricing expectations are still not aligned on higher-risk coverage options.

The ratings agency said the global reinsurance sector is in “an even stronger position than a year ago”.

The rate change will be implemented in November.

Lancashire was the only carrier to see double-digit growth in insurance revenue for H1.

The action follows the completed acquisition of Accredited by Onex Partners.

The board of directors has voted for a 10% rate hike.

In messaging to the market, the cyber insurer described the rating environment as “stable and sustainable”.

Q2 was the ninth consecutive quarter of year-over-year price decreases.

Global property rate increases were also flat in the quarter.

The insurance sector’s RoE is expected to exceed 10% next year.

Accounts with poor performance records are expected to see flat to 20% rate increases for cat coverage, according to Floridian broker Brown & Brown’s Q3 Market Trends report.

Availability of ILS has so far fulfilled investor demand.