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.
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.
Commercial insurance buyers can expect to pay more across most lines of business for the rest of 2019 as insurers take a more disciplined approach to pricing and underwriting, according to a report issued Thursday by Willis Towers Watson PLC.
(Reuters) — French insurer AXA SA said Wednesday it had provided insurance coverage for a few artworks from Notre Dame cathedral for a maximum amount of a few million euros.
Brown & Brown Inc. late Monday reported 2019 first-quarter revenue of $619.3 million, up 23.5% from the first quarter of 2018 as acquisitions gave commissions and fees a boost.
The U.S. property/casualty industry experienced a small underwriting profit in 2018 following consecutive years of losses driven by natural catastrophes, with further improvement expected in 2019, according to Fitch Ratings Inc.
(Reuters) — Travelers Cos. Inc.’s quarterly profit beat analysts’ estimates on Thursday, as improved underwriting and lower catastrophe losses offset a decline in net investment income, sending its shares to a more than one-year high.
Insurance premium renewal rates in the first quarter of 2019 increased across most major commercial lines compared with the previous quarter, except for workers compensation, insurance exchange Ivans Insurance Solutions said Tuesday in a report.
London market insurers’ 2018 results were hit by above-average catastrophe losses and low investment returns, Fitch Ratings Inc. said in a report Monday.
U.S. commercial property/casualty insurance rates rose 2% on average in the first quarter of 2019, with commercial auto lines continuing to lead rate increases, online insurance exchange MarketScout Corp. said Friday.
April 1 property reinsurance renewals saw increases as large as 25% to accounts hit by catastrophe losses, while accounts free of losses of all types were flat in some cases, Willis Re said Monday in a report.
The U.S. property/casualty insurance industry’s overall financial performance declined in 2018 for the second consecutive year as above-average catastrophe losses hit results, ratings agency A.M. Best said Friday in a report.
The price per million of directors and officers liability insurance for Aon PLC clients increased 11.6% for the fourth quarter of 2018 compared with the same period a year ago, the brokerage said in a survey report issued Thursday.
China Re Corp. on Monday said it has launched a renewable energy consortium at Lloyd’s of London that focuses on project-specific reinsurance for the construction and operation of offshore wind farms in mainland China.
Net premiums written totaled $59.34 billion for the 17 reinsurers tracked by the Reinsurance Association of America, up sharply from $42.90 billion in 2017.
The outlook for the commercial auto liability segment remains negative as challenges persist despite some progress made by insurers, Guy Carpenter & Co. LLC said in a report sent to clients and shared with Business Insurance on Thursday.
Munich Reinsurance Co. on Thursday said it is offering coverage to protect battery manufacturers against the risk of their products not performing as promised.