-
The expected spend is around 33% higher than Twia had budgeted.
-
The suggested update to the PML is $2bn higher than last year.
-
The carrier also set out detail on its alternative solutions offering.
-
European rates on line increased by 7.60%, while in the US prices were up 5.25%.
-
The $7bn initial attachment point has remained unchanged from last year.
-
Of $17bn that entered the market in the 15 months to 31 December, 40% was channelled into ILS vehicles.
-
CFO William McDonnell said reinsurance market stabilisation in 2023 allowed the firm to buy more protection than expected.
-
The broker’s report also hailed the best risk-adjusted margins for ILS investors in a decade.
-
The broker’s 1st View report predicted that cat bond issuance should remain elevated until at least Q2 2024.
-
Projected 2024 ILS returns remain historically high, but signs of increased appetite for top-layer cat risk and top-end retro raise questions over how long this will last.
-
The TWIA board has fired the starting gun on the process to place its reinsurance programme incepting June 2024.
-
The P&C Re CEO discussed Swiss Re’s P&C appetite and nat cat exposure in the investor presentation.
-
The ILS sector grew in the context of 0% interest rates historically.
-
Demand is expected to boost the ILS market growth.
-
The firm’s 1st View report on the July renewals also flagged that an oversupply of ILW capacity may bring down attachment points relative to early 2023.
-
The broker estimated global reinsurance capital rose by $30bn over the first quarter, with a 7% uplift in alternative capital and a 5% recovery to traditional equity.
-
The organisation bought $1.4bn of reinsurance at 1 April.
-
This year’s program – sealed with a panel of 78 reinsurers – includes $875mn of multi-year ILS capacity providing diversifying collateralized reinsurance capital.
-
The pace of rate hikes will ease back from the 1 January reset as buyers seek to lock up capacity early after last year’s dislocated renewal.
-
Aon expects depleted shareholder equity to be restored over time via higher retained earnings and the ‘pull-to-par’ effect of bonds approaching maturity.
-
Cat bond pricing has fallen by about 12% since year-end but margins are still strong enough that the market could be set for meaningful growth, the broker forecast.
-
The real test for cat capacity will come at the mid-year point, according to Gallagher Re.
-
The cat bond market is thought likely to receive an outsized portion of any capital inflows.
-
CEO Locke Burt said Florida reforms would be “transformational” and that investors had become more receptive to cat risk owing to higher rates.
-
The US mutual cut back its 1.1 reinsurance program, according to sources.
-
The ILS manager’s analysis highlighted that Lloyd’s nat cat exposure had lowered over the six years to 2021.
-
The carrier has upped its global all-perils cat coverage to $1.2bn since January last year.
-
The capital management platform remains active but January renewals were fronted by the balance sheet.
-
The reinsurer noted “buoyant” conditions in the cat bond and private reinsurance segments.
-
The carrier has increased its retro capacity by 56% to EUR1.34bn.
-
The carrier said it achieved average risk-adjusted price increases of 30% on cat business.
-
The organisation is preparing its reinsurance placement based on the increased exposure numbers.
-
Rate increases achieved at 1 January will help carriers keep pace with inflation, the agency said.
-
The carrier has renewed two of its quota shares with continental reinsurers with final negotiations underway.
-
The broker said the renewal had been “gruelling” for cedants.
-
The European cat market is hardening faster than expected but the process is being delayed by ongoing negotiations over retro protection and varying lists of reinsurer demands to improve terms.
-
The syndicate’s growth headroom is somewhat constrained compared to the Lloyd’s market average.
-
Expansion is set to be a trend across Lloyd’s as syndicates look to capitalise on a hardening market.
-
The ILS broking leader was speaking at the first in-person Munich Re ILS roundtable at the Monte Carlo Rendez-Vous since the pandemic.
-
The price for risk carrying is no longer insufficient, Munich Re's CEO said in a Monte Carlo briefing.
-
Moody’s, S&P and Fitch all see current conditions as potentially allowing for ILS growth.
-
Succeeding years of nat-cat losses have left aggregate and lower-layer capacity tighter.
-
The deadline for Lighthouse Excalibur policy cancellations has been extended to 30 June.
-
Reinsurers secured concessions on terms and hiked rates as most insurers managed to patch together cover to enter hurricane season.
-
DE Shaw has been offering a form of “capacity wrap” to insurers in which its limit could be used to plug gaps throughout programmes, sources said.
-
The chunky deal comes as many reinsurers are heavily cutting their Florida cat books.
-
Some cedants remain far behind in a stressed renewal, but others are on the path to completion in a reshaped Florida market.
-
Proposed RAP coverage layer adds protection and exposures for insurers.
-
The Gallagher Re managing director of EMEA North and East said buyers need to be able to explain their stance on handling inflation, going beyond price to include action on their own underlying limits and deductibles, to get reinsurers on board.
-
The $500mn of new demand from Allstate highlights carrier need for cover after Ida, but pulling together cat capacity in the peak US market remains a tougher ask.
-
Scor said it had purchased the same retro limit as it had last year while managing “contained” price increases, as it cut back its catastrophe exposures.
-
RenaissanceRe had raised $470mn for the high-risk fund platform a year earlier.
-
The industry is expected to improve its return on capital slightly in 2022.
-
The French reinsurer’s vehicle has renewed for the fourth consecutive year.
-
The Federal Emergency Management Agency trimmed its spend on the program by 12%.
-
Many private deals featured in final renewals negotiations as overall cat risk appetite was cut back, with some ILS segments hard-hit.
-
The shortage of sidecar capacity could have a knock-on impact to broader renewals.
-
Its reinsurance premiums ceded are expected to reach $207mn, up from $175mn a year earlier.
-
The retention was $80mn which will reduce to $55mn for second and third events.
-
Willis Re international chairman James Vickers said that the ILS market played a strong role in the Florida renewals, but it was becoming more difficult to judge the overall impact of the sector as more capacity stays behind rated balance sheets.
-
The broker said a buoyant ILS market contributed to the reinsurance market nearing a new equilibrium at the end of mid-year renewals.
-
The news marks the second year in a row members have ceded more than $1bn in risk to the Caribbean Catastrophe Risk Insurance Facility.
-
Total spending was up 2% as the Floridian carrier cut back the limit it bought by 10%.
-
The organisation has $170mn less cover in place than the $2.1bn it had for the 2020 and 2019 hurricane seasons.
-
Last year it secured just NZ$6.2bn of protection from major nat cat events, as premium spending went up by 11%.
-
New and growing carriers helped to fill out treaties as Sompo stepped back from a market that came in flatter than expected for remote risk.
-
The carrier cut back its treaty limit by around 13% and lowered its deductible.
-
Divergence between appetite for upper and lower layer reinsurance risk may drive some panel turnover, and disadvantage some segments.
-
Berkshire, along with some other expansive reinsurers, grew its level of assumed reinsurance premium from top Florida insurers significantly in 2020, as the ILS market share dropped overall.
-
The company also procured approximately $180mn of incremental limit for earthquakes.
-
Pockets of the distressed Florida market are still expected to face a challenging renewal, but much of the remediation was carried out last year.
-
Reinsurers are still hoping to achieve double-digit rate increases, but brokers and cedants suggest this is unlikely against the context of strong reinsurance supply.
-
Amid an April renewal that resulted in a slower pace of typhoon rate increases, ILS deals covering Japan have held up above historic lows.
-
The personal and commercial lines book will be folded into recently-acquired Centauri Insurance.
-
Event definitions were also tightened at renewals, the broker said.
-
The carrier predicts Covid’s reinsurance impact will drive market hardening.
-
The French reinsurer reported average treaty price increases of 7.8% in January and predicted rate growth through to 2022.
-
The reinsurer was chasing a high 15% net return target but said lower demand and capital trapping made this unachievable
-
The carrier maintains its 2021 profit forecast amid 8.5% 1 January premium growth.
-
But analysts added that slowing rate momentum suggested the hard market could end this year.
-
The flood insurer cut just under $200mn of limit from its renewal, enabling it to pare back its outlay, although nominal programme-wide rates rose 13%.
-
Limited new inflows supported the collateralised and sidecar markets as cat bond offerings attracted significant capital.
-
Aggregate retro capacity has “reduced enormously” but rate increases were less severe than some had feared, the Willis Re international chairman said.
-
Capacity was constrained but some ILS funds were able to grow, while cat bonds also propped up supply.
-
New capacity and fewer problems with trapping contributed to a smoother renewal than some had expected.
-
Costs outpaced the European benchmark rate change, but Covid loss negotiations have been deferred.
-
A fresh BI ruling in Australia this week highlighted the industry's reason for caution over Covid exposure as legal actions continue.
-
The carrier says higher retro renewal costs will act as a counterweight to rising rates.
-
The reinsurers point to falling interest rates and loss experience as the basis for further hardening.
-
Contingency losses will result in a total loss and an increased renewal cost.
-
The carrier's Ada Re vehicle will join its Turing Re sidecar, but its capacity is not known.
-
The CEOs of Aon Reinsurance Solutions, Willis Re and TigerRisk predict limited rate gains, but up to $10bn of incoming capital.
-
The debate over how far Covid losses will escalate is not the only key to January renewal dynamics.
-
As new PE inflows arrive in the sector, it remains to be seen how this will be matched on the ILS side.
-
Insurers need to “be ahead of the game” on rate increases, company officials told Trading Risk.
-
The insurer had previously confirmed details of its $4.5bn treaty renewal.
-
Coronavirus is just one factor driving rate increases, (re)insurers said.
-
The carrier has reduced its frequency risk while lifting exposure to tail events.
-
The utility spent 13% more to secure its insurance but cut back third-party cover to $870mn.
-
The French reinsurer guides away from an equity raise as it predicts further rate hardening.
-
A number of major carriers have bought new catastrophe covers, but the overall gain is likely to be muted, brokers forecast.
-
Cat programmes have been completed this year, but a heavy hurricane season could shake up the market, the broker said.
-
The (re)insurer placed a new $100mn enterprise cover, ahead of the $350mn bond elapsing.
-
Reduced exposures take the vertical limit on carrier’s cat programme down to A$6.5bn from A$7.2bn.
-
Reinsurance capacity has largely bounced back from an initial Covid-19 hit, but the ILS segment remains more disrupted.
-
The carrier’s latest treaty offers $1.01bn of cover, down from $1.24bn last year.
-
An influx of underwriting capacity will likely limit the extent to which reinsurance rates rise, the agency said.
-
RoLs could rise moderately in July with stronger gains in January, market participants said.
-
The early renewal approach has been met with opposition from Lloyd’s reinsurers.
-
Limited mid-year trading has continued but buyers have cut back.
-
The capital raise boosted Fidelis’ share base by 45 percent of pre-transaction equity.
-
Avatar has increased the spreads on its new Casablanca Re bond just a week after hiking them by 16-18 percent.
-
Trading was brought forward this year and more cedants could head to bond market.
-
RPP covers, previously dominated by ILS writers, were one of the areas in shortest supply.
-
The Florida-based insurer’s spend rose by 17 percent to $262mn.
-
The carrier took a small co-participation on its first layer, effectively lifting its retention.
-
Both tranches of Avatar’s second-ever Casablanca Re cat bond have had their spread guidance increased by 16-18 percent.
-
The Covid-19 pandemic has caused greater turbulence in the Florida reinsurance market than Hurricane Irma, and two big questions will remain after the dust has settled.
-
The FHCF opted to “sit this renewal out”, according to sources.
-
Small increases on international cat treaties such as the New Zealand EQC are being welcomed by reinsurers, with US nationwide deals also rising by up to 15%.
-
The agency predicted more companies would take action like Capitol's decision to shed policies.
-
The ILS market is among the leaders in holding firm on exclusions.
-
The carrier abandoned plans to do a new cat bond and boosted traditional cover on “better terms”.
-
The carrier’s CFO said Florida pricing “could return to more rational levels” after years of underpricing.
-
Uncertainty created by Covid-19 is driving demand, as insurers move to protect capital, Jean-Paul Conoscente said this week.
-
Ahead of the renewal, Scor’s CEO had been pushing for double-digit rate increases in Japan.
-
Early firm orders showed similar levels of increases to 2019, but are not expected to be a strong benchmark in a fast-changing market.
-
The California body’s $900mn in bonds constitute 20 percent of unrenewed notes maturing before July.
-
Underwriters will likely keep pushing for higher rates, the rating agency said.
-
Willis Re said overall ILS share was stable, as some took advantage of rising rates in Japan.
-
Sources have warned that the cat bond sell-off could restrict capacity in the upcoming Florida renewals.
-
As per previous bonds, the transaction is fronted by Hannover Re.
-
The carrier said it has already secured two-thirds of the private reinsurance limit it will place this year.
-
The firm's cat excess-of-loss book rose 7.8 percent.
-
The carrier contributed more than $100mn of the January intakes for its retro-focused Upsilon fund and the Medici cat bond fund.
-
The CEA expects new revenue bonds could reduce its risk transfer needs by $300mn.
-
The manager has offered to repurchase up to 22.5 percent of its Reinsurance Risk Premium Interval Fund, well above the usual 5 percent buyback offer.
-
The insurer placed 35 percent less aggregate limit than in 2019.
-
Overall sidecar capacity has been cut by more than 20 percent, sources estimate.
-
The funds raised for Eden Re II this renewal have reached $285mn down from $300mn last year.
-
The deals include a $30mn aggregate and a $110mn all-other-perils deal.
-
The deal may replace a $55mn sidecar listed this time last year, which sources said provided reinsurance for a short-tail property insurance book.
-
Peak Re was able to increase sidecar cover for its global property reinsurance risk portfolio amid stalling ILS capacity this renewal.
-
The government secured a slight expansion in the level of cover obtained across the middle layer of the programme.
-
Trapped collateral left overall capacity flat, despite a 5 percent increase in rated capital.
-
Hyperion X estimated retro rates have risen to around 140 percent of their pre-Irma levels.
-
The broker's chairman of international business James Vickers said reinsurers are only trimming capacity on the edges of the cat market.
-
The broker’s 1st View report highlighted diverging reinsurer tactics and segmented renewal outcomes.
-
The carrier renewed about a third of its $1.2bn earthquake cover.
-
The reinsurer was among the blue-chip cedants to benefit from an earlier renewal and occurrence structure.
-
Risk-adjusted rate increases have put returns back to 2014 era benchmarks, sources estimated.
-
The vehicle is a PGGM investment with Munich Re, complementing the latter's Eden sidecar.
-
Underlying rate increases are ranging from 10-25 percent for US regional insurance binders.
-
It is the first ILS vehicle to receive the credential from the FNG.
-
Any lack of retro support could push reinsurers to reduce their gross footprint in the Sunshine State, suggested Validus Re's Chris Silvester.
-
The provider said the losses were driven by the impact of Hurricane Dorian and Japanese typhoons.
-
Experts split on how far the mid-year renewals benefitted reinsurers.
-
The carrier is among the first P&C insurers to release anticipated loss numbers ahead of the third-quarter earnings season.
-
The Amundi Pioneer fund’s value dropped to $819.9mn at the end of July.
-
A slew of new retro vehicles were mooted at the Monte Carlo Rendez-Vous and existing players are keen to expand.
-
The lift in ILW pricing seen at mid-year has been unilateral across most products and was a further increase on the 2018 pricing correction following 2017 events, according to Aon.
-
Aon’s plan to launch an auction platform in time for 1 January 2020 suggests a struggle is underway in the reinsurance space for the position of auction technology market leader.
-
Ratings agencies remain positive on reinsurers boosting their use of retrocession to grow, despite this year’s capacity crunch in the retro segment.
-
The aggregate recoveries were part of A$589mn overall losses ceded by the insurer to its reinsurers in the past year.
-
Reinsurance buyers with a relationship-driven approach have come through 2019 renewals in better shape than transaction-based cedants.
-
Axa XL cut back revenues on property cat reinsurance business by 7 percent in H1.
-
The insurer increased its reinsurance spend by 10 percent in the quarter after adding $400mn top-layer coverage.
-
The California-based carrier raised its retention to $40mn, citing high rates.
-
The ILS unit has reached $1.6bn assets, as Hiscox’s reinsurance group was hit by 2018 loss creep.
-
The RenRe CEO also flagged changes to the firm’s purchased and written retro portfolios in mid-year renewals.
-
The momentum for rate increases has built up in a delayed reaction to losses.
-
The rate increases were less differentiated than the 1 June Florida rises.
-
Assurant is paying $165mn in premium for the 1 July reinsurance renewal, before tax, a 20.7 percent increase on last year.
-
The Lane Financial index has returned to levels not seen since 2012.
-
Reinsurers that have been reliant on retro cover also pared back their market share, as the broker said mid-year renewals showed tangible pricing momentum.
-
The hedge fund’s participation drove an overall increase in ILS use by the Floridian insurer for its 2019-20 programme.
-
The insurer paid a rate on line of 11.25 percent for its new personal lines cover.
-
Rates are believed to be around 15-30 percent up in the retro market, helping in turn to support increased rates in the Florida renewal.
-
However, the verdict on whether Florida rate increases were enough to satisfy underwriters still seems a split one.
-
Some of the largest Florida carriers increased their reinsurance limits at this renewal, but they were able to keep control of overall expenditure by opting for more Florida Hurricane Catastrophe Fund (FHCF) protection.
-
The state cat fund delayed its renewal to avoid clashing on the market with Florida insurers.
-
The company’s cover for a Florida storm now extends to $3.28bn – up $134mn from 2018.
-
A range of buyers have to use private deals to fill out orders, but the vast majority look set to be covered by the end of today.
-
The legislation now passes to the state’s Assembly.
-
Rising Jebi losses will contribute to a squeeze on capacity.
-
The insurer increased its participation at the Japan renewals in April.
-
The insurer was hit by $5mn of cat losses in Q1 2019, adding 2.4 points to the combined ratio.
-
Rates rose by almost 15 percent for cat programmes in the Japanese market, according to the French reinsurer.
-
The increase gives an early indication that reinsurers may be able to secure significant increases at this year’s Floridian renewals.
-
Reinsurers avoided another lacklustre renewal season with loss-affected business in Japan, the US and the retro market attracting rate rises.
-
ILS managers are upping the pressure on Florida reinsurance buyers to change terms and conditions or retain more risk as 1 June renewal negotiations continue.
-
In the US April renewals, loss-impacted business rose by 5 to 20 percent.
-
The state is “still a cash cow for reinsurers” as over the past decade the Florida reinsurance combined ratio has been running at 79-80 percent, according to the analysts.
-
The rate outlook from consultancy firm Raymond James is below the 20 percent-plus correction that reinsurers are pushing for.
-
Some reinsurers are saying their views of Florida risk have changed post-Irma.
-
After entering the market in loss-struck 2018, the pension fund was prepared to lift its allocations to Aeolus and Catco for 2019.
-
The $50mn ILS vehicle of Fidelis, led by CEO Richard Brindle, was launched on 1 June 2018.
-
The London-based insurer renewed its programme which includes 9 percent collateralised reinsurance at the start of 2018.
-
Third Point Re ended 2018 with a quarterly net loss of $298mn after suffering a net investment loss of $276.8mn.
-
In a note to investors Matt Carletti ranked catastrophe aggregate programmes as being set to see the largest price rises.
-
Catastrophes and large claims dragged Bermuda-based Hiscox Re and ILS to a $23.2mn loss for 2018.
-
The total is 10 percent more than the $400mn figure Brit disclosed for 2018.
-
The insurer declined to comment on how much limit of the EUR1.75bn cover was placed.
-
The reinsurer’s P&C unit fell to an underwriting loss for 2018 after $2bn of catastrophe losses.
-
This was up from the $623mn figure reported in its Q2 2018 results.
-
The firm said its maximum no-loss return was 30 percent, up from 23 percent in 2018.
-
Florida Specialty, which has ceded 100 percent of its risk to Sirus America Insurance Company, was among those affirmed.
-
The business is achieving a 10 percent uplift in pricing.
-
The insurer passed on $17.7mn of major losses to third party investors in 2018.
-
Reinsurers said they were expecting more pressure on rates in the upcoming April and mid-year renewals during the early part of the fourth-quarter reporting season.
-
The carrier predicts P&C rates will increase in the double digits in both Japan and the US later this year.
-
The carrier said its P&C reinsurance major-loss expenditure for Q4 was EUR886mn, almost double that of the prior-year quarter.
-
The carrier renewed its retro contracts and expanded its K sidecar to $640mn for 2019.
-
The manager said it also expected currently attractive cat bond opportunities to dissipate later in 2019.
-
The firm grew its treaty reinsurance book by 15 percent in the January renewals.
-
The company’s investors were now more diversified, CEO Albert Benchimol said in an earnings call.
-
The firm’s Q4 fee income was down year on year, but over the course of 2018 has risen 35 percent from 2017.
-
Kevin O’Donnell, CEO of the Bermuda-based company, said he expected reinsurance rates to rise in later 2019 renewals.
-
Hurricane Michael generated a larger loss for the carrier than 2017’s Irma.
-
The board of Bermuda-based Markel Catco’s listed fund will review arrangements as the transition takes place following the founding CEO’s departure.
-
In the US, renewal results varied widely and wildfire losses were a subject of focus.
-
The fund manager’s scarce capacity contributed to a generally difficult retro renewal at 1 January for buyers
-
Cat bond investors have varying rights to share in subrogation benefits, as it has emerged following the Californian wildfires of 2017-2018.
-
The broker said deployable ILS capacity could become more broadly constrained, but equally there were signs capital could increase.
-
A new $213mn issuance has been added to an $87mn Eden Re tranche done in December.
-
The size of the vehicle was not disclosed.
-
The latest deal will provide the carrier with retro cover, Trading Risk understands.
-
The Australian carrier said December’s Sydney hailstorm would trigger its per-occurrence reinsurance.
-
The carrier lifted its retention on a A$475mn aggregate cover.
-
The new vehicle managed to launch amid a challenging fundraising market.
-
As less ILS capital was available at 1 January, retro rates rose by up to 35 percent on loss-hit deals, the broker said in its 1st View report.
-
Quota share and aggregate retro remain the most disrupted pockets of the market ahead of the January renewals, as underlying reinsurance looks flatter.
-
Steep reserve deterioration may reduce confidence in the fund’s reserving process, Jefferies analyst said in a recent note.
-
The firm’s 2017 portfolio loss has risen 15.7 percent to 57.1 percent.
-
The manager also said the spread-widening associated with Florence and Michael had a dampening effect on cat bond performance.
-
Sources said that Berkshire Hathaway will not support the cover for 2019.
-
Continuing cat losses and dislocation at Lloyd’s should support reinsurance renewal rates, the reinsurer suggested.
-
Munich Re said there was growing pressure for underwriting discipline.
-
Human behaviour now has a smaller role in determining pricing, according to the broker's president and global head of casualty.
-
The carrier also signed up 50 percent more investors during the July renewal.
-
The insurer secured $445mn of catastrophe reinsurance at 1 July for a rate reduction.
-
In its 1st View report the broker said the impetus for risk-adjusted rate increases had stalled at the June and July renewals.
-
July’s renewals may outperform 1/6 which focused on Florida-attracted alternative capital.
-
Demand for retrocession is expected to be up slightly at the mid-year renewals, but with relatively little business concluded so far there is no clear outlook on how rates will hold up.
-
Property cat rates in the state remain 40 percent below 2012 levels.
-
Federated National has cut its reinsurance spend by 17 percent as it pared back its programme to match a shrinking Florida portfolio.
-
The Florida insurer decreased the share of its growing premium base being ceded to reinsurers.
-
Reports by analysts at Morgan Stanley and JMP forecast an "underwhelming" renewal.
-
The Texan insurer of last resort has increased its Hurricane Harvey loss estimate by 11 percent since January, as it moves to secure more reinsurance.
-
The Florida carrier increased its spend from $314mn last year to lift its reinsurance protection.
-
Florida-based insurer UPC has inked several large deals with major ILS managers Nephila, Elementum and Aeolus at the 2018 reinsurance renewal.
-
The Florida-focused carrier obtains reinsurance protection for a 1-in-400-year event.
-
Florida's state-backed insurer is set to buy $1.42bn reinsurance for the 2018 season.
-
Florida reinsurance premium rates are expected to rise within a single digit range a year after Hurricane Irma.
-
Early signs indicate third-party capital is being deployed aggressively in the Florida market.
-
The insurer’s cat losses contributed to a general insurance underwriting loss.
-
The reinsurance market’s traditional pricing cycle will be put on “life support” as ILS capacity remains abundant, said Willis Towers Watson Securities in its latest ILS market update.
-
Reinsurers were pushed back in their attempts to increase US property rates at the April renewal, with loss-free cedants even demanding slight decreases, Willis Re said in its 1st View report.
-
Several Florida cat bonds among new second quarter ILS transactions have set tight pricing precedents that will undoubtedly be used by insurers to try to keep a lid on rate movements in the upcoming mid-year renewals.
-
US commercial property insurance rate increases are already showing signs of slowing in the face of a well-capitalised P&C industry buoyed by an appetite for alternative capital, according to Willis Towers Watson.
-
Willis Re said global catastrophe pricing was broadly flat in an "uncontentious" April renewal, as it noted a dramatic change to the reinsurance landscape as primary carriers re-entered the market through M&A deals.
-
Pricing on Japanese catastrophe programmes has been flat in the latest renewals, despite attempts from reinsurers to leverage the 2017 cat losses to secure improved terms.
-
Several Floridian insurers are looking to lower their reliance on the state-backed reinsurance fund in 2018, bringing a small amount of new demand into the market.
-
The Texas Windstorm Insurance Association will reset its Alamo Re 2017 cat bond to trigger at a lower level after its Hurricane Harvey losses wiped out the association's funds.
Most Recent
-
Louisiana Citizens bond Bayou Re upsizes 83% to $275mn
19 April 2024 -
Allstate pegs March pre-tax cat losses at $328mn
18 April 2024 -
PFZW’s ILS allocation drops 9% in Q1 to $8.3bn
18 April 2024