PRICING TRENDS
Insurance buyers face an uncertain outlook over the next year. While the sharp primary rate increases of the past four years appear to have eased, prices are still rising, and general economic conditions and other market forces may preclude much further easing.
Insurance buyers face an uncertain outlook over the next year. While the sharp primary rate increases of the past four years appear to have eased, prices are still rising, and general economic conditions and other market forces may preclude much further easing.
Hurricane Ian is likely to be a significant loss event for the U.S. property/casualty and global reinsurance sectors and is expected to accelerate the firming of property rates in 2023, Standard & Poors Global Ratings said in a note Friday.
Hurricane Ian is likely to be a significant loss event for the U.S. property/casualty and global reinsurance sectors and is expected to accelerate the firming of property rates in 2023, Standard & Poors Global Ratings said in a note Friday.
Firm rates and capacity constraints are likely to continue in the wholesale and specialty insurance market for the remainder of this year and into 2023, even as some areas moderate, according to sources at the Wholesale & Specialty Insurance Associations Annual Marketplace.
Firm rates and capacity constraints are likely to continue in the wholesale and specialty insurance market for the remainder of this year and into 2023, even as some areas moderate, according to sources at the Wholesale & Specialty Insurance Associations Annual Marketplace.
U.S. commercial insurance prices increased by 5.9% on average in the second quarter, compared with the year-earlier period, according to Willis Towers Watsons latest pricing survey.
U.S. commercial insurance prices increased by 5.9% on average in the second quarter, compared with the year-earlier period, according to Willis Towers Watsons latest pricing survey.
The worlds largest reinsurers will push for substantial rate increases at Jan. 1, 2023, renewals because they say exposures are increasing and inflation in key markets continues to drive up claims.
The worlds largest reinsurers will push for substantial rate increases at Jan. 1, 2023, renewals because they say exposures are increasing and inflation in key markets continues to drive up claims.
Global dedicated reinsurance capital fell by 11% to $647 billion in the first half of this year, driven by significant unrealized investment losses, even as premium growth remained strong, according to a report released Tuesday by Gallagher Re, the reinsurance business of Arthur J. Gallagher & Co.
Global dedicated reinsurance capital fell by 11% to $647 billion in the first half of this year, driven by significant unrealized investment losses, even as premium growth remained strong, according to a report released Tuesday by Gallagher Re, the reinsurance business of Arthur J. Gallagher & Co.
Commercial insurance premium rates increased an average of 6.1% in the second quarter, according to a report Monday from The Council of Insurance Agents and Brokers.
Commercial insurance premium rates increased an average of 6.1% in the second quarter, according to a report Monday from The Council of Insurance Agents and Brokers.
Insurers are increasing their scrutiny of the age and condition of commercial building roofs and imposing more restrictive terms under property policies, experts say.
Insurers are increasing their scrutiny of the age and condition of commercial building roofs and imposing more restrictive terms under property policies, experts say.
Zurich Insurance Group reported a better-than-expected 25% rise in operating profit in the first half on strong performance across the board and announced a bumper 1.8 billion Swiss francs ($1.91 billion) share buyback on Thursday, sending its shares higher.
Zurich Insurance Group reported a better-than-expected 25% rise in operating profit in the first half on strong performance across the board and announced a bumper 1.8 billion Swiss francs ($1.91 billion) share buyback on Thursday, sending its shares higher.
Reinsurance mergers and acquisitions will be limited into next year due to investors concerns about macroeconomic risks and heightened catastrophe losses linked to climate change, Fitch Ratings Inc. said in a report released Wednesday.
Reinsurance mergers and acquisitions will be limited into next year due to investors concerns about macroeconomic risks and heightened catastrophe losses linked to climate change, Fitch Ratings Inc. said in a report released Wednesday.
American International Group Inc. reported a significant increase in profit late Monday on its previous sale of a runoff reinsurer and strong underwriting results but said it had delayed the planned second-quarter initial public offering of its life and retirement business due to stock market conditions.
American International Group Inc. reported a significant increase in profit late Monday on its previous sale of a runoff reinsurer and strong underwriting results but said it had delayed the planned second-quarter initial public offering of its life and retirement business due to stock market conditions.
Liberty Mutual Holding Co. Inc. will continue to push for higher insurance rates after reporting a second-quarter net loss of $343 million, compared with $769 million in net income in the same period last year, as lower investment income and higher claims costs hit the insurer, its top executives said Thursday.