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.
(Reuters) — General Electric Co. on Thursday said its current reserves for long-term care insurance policies were sufficient and that it is looking to increase premiums to cover their rising cost.
Hannover Re SE on Thursday reported 2018 net income of €1.06 billion ($1.19 billion), up 10.5% over 2017, despite substantial catastrophe losses and a one-time charge in life and health reinsurance.
A.M. Best Co. Inc. said on Wednesday the number of U.S. property/casualty insurer credit rating downgrades more than doubled in 2018, citing catastrophic weather losses and challenging pricing conditions.
Despite economic headwinds, emerging market insurance premiums will more than double in the next 10 years, outpacing growth in advanced markets by four times, Swiss Re Ltd. said Wednesday in a report.
February premium renewal rates increased across all major commercial lines of business in February except for workers compensation, Ivans Insurance Solutions said Tuesday in its monthly report.
(Reuters) — General Electric Co. is setting aside one of the largest amounts ever to cover potential losses on policies that provide long-term care in nursing facilities and patients’ homes. But insurance experts are concerned that may not be enough.
Marsh USA Inc. on Thursday said it is launching IP Protect, a new coverage for intellectual property backed by managing general underwriter Ambridge Partners LLC.
There are “overall modest expectations” for U.S. property/casualty commercial price increases in 2019, says A.M. Best Co. Inc. in a report issued Tuesday.
Rising claims severity is a concern for architects and engineer insurers, although most reported the same or better claims results in 2018, says an Ames & Gough survey.
Average global commercial insurance prices increased by 2% in the fourth quarter of 2018, the fifth straight quarterly hike, driven by property and financial and professional lines of coverage, Marsh LLC said in a report Monday.
(Reuters) — Reinsurer Swiss Re Ltd. on Thursday posted a 27.2% jump in 2018 net income despite claims from large-scale natural catastrophes and man-made disasters.
Twelve of 13 mutual insurer marine protection and indemnity clubs that are part of the International Group of P&I Clubs will not increase rates at the upcoming renewal for shipowners for the 2019-20 policy year, ratings agency A.M. Best Co. Inc. said Monday in a report.
American International Group Inc. is still on course to make an underwriting profit in the first quarter of 2019 after dumping the previous management’s “go large” strategy, the insurer’s top executive said Thursday.
Jan. 1 reinsurance renewals were “disappointing” for reinsurers and prices are unlikely to increase substantially at the upcoming midyear renewals despite mounting 2017-2018 catastrophe losses, ratings agency A.M. Best Co. Inc. said Friday in a report.
Scor SE’s property/casualty reinsurance renewal premiums grew by 9.7% to €3.2 billion ($3.6 billion) at the January renewals, the France-based reinsurer reported Thursday.