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A continuing reinsurance capital surplus mitigated rate rises at 1 January, with loss-hit US property cat, global direct and facultative (D&F) and property retrocession the only major classes posting increases comfortably into the double digits, according to JLT Re.
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The sample size may not have been large, but the handful of results filings from US carriers and brokers last week provided further evidence that the commercial insurance market is beginning to see upward - albeit moderate - movement on rates.
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Annual insured catastrophe losses surpassed $140bn for the first time last year following the California wildfires and hurricanes Harvey, Irma and Maria (HIM), according to JLT Re.
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As anyone following Travelers in recent years will know, the US insurance giant's management are reluctant to accept the "bellwether" moniker bestowed upon them by many industry commentators
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Uncertainty around the Ogden rate continued to push up UK motor excess-of-loss (XoL) renewal rates at 1 January, albeit with substantial divergence across programme layers.
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The implosion of Carillion is likely to add further losses to UK trade credit underwriters already reeling from the collapse of wholesaler Palmer & Harvey and airline Monarch.
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Continued excess capacity and the overall resilience of the market meant most 1 January accounts renewed flat on a risk-adjusted basis, according to Guy Carpenter.
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Bermuda-based carriers' share prices jumped upon the news of AIG's $5.56bn takeover bid for Validus yesterday, buoyed not only by the prospect of further M&A on the island but also Brian Duperreault's positive outlook on the sector.
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The global aviation market is starting to harden, with loss-hit accounts achieving rate increases in the fourth quarter, according to JLT Specialty.
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Commercial insurance rates in the US rose across all major lines except workers' compensation in the fourth quarter, according to an insurance pricing index compiled by a unit of software company Applied Systems.
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Every year at the Monte Carlo Rendez-Vous The Insurance Insider gathers together a celestial roll call of global reinsurance leaders for a discussion that has evolved to become the definitive event of the gathering
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Cat bond issuance reached a record $11.1bn last year as sponsors took advantage of low rates and an overhang of supply from 2016 to buy cover
