Rates
-
The firm received a long-term ICR of a- and the outlook for both ratings is stable.
-
European rates on line increased by 7.60%, while in the US prices were up 5.25%.
-
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.
-
Reinsurers are making some adjustments to secure target signings but appetite to grow is finely balanced.
-
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.
-
Anticipations of a tug-of-war around a ‘flat to slightly up’ pricing renewal have indeed come to fruition.
-
Profits are expected to widen thanks to improved rates and higher average attachment points.
-
TWIA has raised its net operating expenses to $40.2mn.
-
E+S Rück said that natural disasters and persistently high inflation have again "taken a toll" on the German insurance industry.
-
Fermat’s John Seo said the industry can “see the wall of money coming in, but it’s coming in slowly”.
-
Prabis does not envisage market softening at this stage, for reasons including wider macroeconomic impacts.
-
The downgrades reflect the negative impact of challenging macro-economic trends on underwriting results and risk-adjusted capitalization.
-
Board members voted five to four in favor of rate increases but fell short of the two-thirds majority required.
-
The ratings agency is currently in discussions with Clear Blue’s management regarding the company’s ability to replace certain programs or letters of credit.
-
The CEO said Chubb has ‘never seen better pricing’ on primary property.
-
Loss-free accounts were generally up 20%-50% at renewal, the reinsurance broker said.
-
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 carrier is increasing underlying rates to counter increased reinsurance costs and inflation.
-
Considering recent reforms, Citizens’ rates, on average, are still 58.6% below actuarially sound levels, but the inadequacy would have been 88.3% without them.
-
Some cedants paid more than 40% increases depending on Florida concentration and Hurricane Ian losses.
-
Even clean accounts in the admitted space are seeing rate increases of 15% year on year, while loss-hit accounts in Florida were slapped with a 100% rate increase for June 1.
-
Early private deals have provided far more stability in this year’s renewal than last.
-
Softening cat bond rates are among the bearish signals for cat rates, but latent new demand and still-cautious supply should prolong reinsurer gains.
Most Recent
-
Amundi Pioneer Cat Bond Fund expands to $322mn in AuM
23 April 2024 -
NCJUA targets $125mn of wind cover with Longleaf Pine Re
23 April 2024 -
State Farm exploring ‘mega cat bond’ issuance
22 April 2024