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.
There is still no standard language in cyber policies, one reinsurance official said at the Professional Underwriting Liability Society’s 2019 Cyber Symposium in New York.
Chubb Ltd. saw profit tumble to $355 million for the fourth quarter of 2018, but executives expressed optimism about rates increasing across several lines.
(Reuters) — Munich Reinsurance Co. on Wednesday reported a 56% decline in fourth-quarter net income after a spate of natural catastrophes but proposed raising its dividend for 2018.
January renewal rates for six major commercial property/casualty lines were mostly lower, insurance exchange Ivans Insurance Solutions said Tuesday in its monthly analysis.
Axis Capital Holdings Ltd. on Wednesday reported a 2018 fourth-quarter loss of $198.4 million, largely due to catastrophe losses from Hurricane Michael and the California wildfires.
Competition from a number of new markets and emerging trends such as the #MeToo movement, cyber and technological developments could create complexity and systemic losses in the D&O market, according to A.M. Best Co. Inc.
(Reuters) — Swiss Re Ltd. plans to double down on a small new online insurance venture as its huge core business continues to be pinched by losses on natural disasters and what it calls unsustainably low premiums.
January reinsurance renewal rate increases were “modest and increasingly regionalized” without overall trends, and ranged from flat to up 3% on average, S&P Global Ratings Inc. said Thursday in a sector report.
Excess and surplus lines premiums in the U.S grew 11.3% to $31.4 billion in 2018, according to a report from the Surplus Lines Stamping Office of Texas.
The Global Rate-on-Line Index, a measure of change in catastrophe premium dollars paid year-on-year, increased just 1.1% despite back to back years of major loss accumulation, according to Guy Carpenter & Co. LLC, a wholly owned subsidiary of Marsh & McLennan Cos. Inc.
Insurance premium renewal rates in the fourth quarter rose across nearly all major commercial lines compared with the previous quarter, except in workers compensation, according to the 2018 Ivans Index.
U.S. and global reinsurance rates were largely stable at Jan. 1, 2019, renewals despite increases in some primary insurance lines and a tightening retrocessional reinsurance market, according to reports by reinsurance brokers released Wednesday.
Analysts see similar potential for reinsurance rate increases in 2019 but are split on the severity of catastrophe losses, according to research notes released Wednesday.
The price per million for directors and officers liability insurance for Aon PLC clients that renewed in both 2018 and 2017’s third quarters increased 3.1%, said Aon Risk Solutions in a report issued Friday.
Commercial insurance and reinsurance pricing should increase in 2019, according to a report released Wednesday by Keefe, Bruyette & Woods Inc.