MGAs expect resurgence in carrier partnerships following pandemic challenges
Confidence is returning among MGAs with the sector expecting its number of carrier partnerships to pick up in 2022 following a challenging period due to Covid-19 and the Lloyd’s Decile 10 initiative.
Agg covers to become area of focus at 1.1 as average rate increases of 2-3% predicted
Reinsurers’ appetite to write aggregate covers has narrowed further, with the European floods and the prospect of deteriorating Hurricane Ida losses leading to higher attachment points and reduced coverage, according to KBW analyst Meyer Shields.
Insuramore: Global delegated authority premiums hit $100bn in 2020
Premiums in the global delegated underwriting authority market totalled $100bn in 2020, according to estimates from Insuramore, with revenues generated by MGAs, MGUs and coverholder groups hitting $12.5bn fuelled by growth in E&S lines and mounting interest in specialist risk classes such as cyber.
Broker carousel settles after frantic 18 months
The Insurer looks back at an unprecedented period for major personnel movements among (re)insurance brokers.
Cordial but inactive: Covid-19 has tested reinsurer relationships with governments
The Insurer tracks the evolution of the sector’s relationship with policymakers following calls for public-private partnerships to address pandemic risk in light of Covid-19.
SoftBank’s groundbreaking $130mn cyber reinsurance deal has its roots in 2018 Swiss Re talks
Earlier today, SoftBank led a $130mn Series B investment in MS Amlin-backed cyber reinsurance MGA Envelop Risk. However, as The Insurer highlights, SoftBank’s interest in the sector goes back to 2017/18.
MS Amlin: The talent challenge
The carousel of senior personnel at MS Amlin has continued to spin over the past two years, with a number of high-profile departures – and subsequent arrivals – at the MS&AD-owned carrier.
CEOs bullish on US commercial insurance rates despite Q2 moderation
Reinsurers will be closely monitoring underlying insurance rate trends as the key 1 January renewal date nears. For US commercial pricing, deceleration has become a common phrase to describe the current environment.
Willis Re: Reinsurance capital up 4% in H1 driven by strong net income
Global reinsurance total dedicated capital grew to $688bn in the first half, up 4.3 percent from the start of the year, according to the latest Reinsurance Market Report from Willis Re, with the reinsurance broker’s international chairman James Vickers telling this publication that reinsurers are still struggling to cover their ...
Top 10 Reinsurance Broker Rankings
The M&A saga involving two of the big three firms may have dominated news flow over the last 18 months, but 2020 revenue numbers compiled in our latest survey show signs of traction for the phalanx of small to mid-size rivals looking to benefit from the disruption…
Argo Syndicate 1200: A litmus test for Lloyd’s M&A
As this publication revealed yesterday afternoon, Bermudian Argo has put its Lloyd’s operation Syndicate 1200 on the block.
AM Best: Robust ILS market shakes off cat losses and Covid concerns
The insurance-linked securities (ILS) market remains in robust health with catastrophe bond issuance on the rise while collateralised capacity has grown and interest in sidecars has rebounded after a downturn in 2020, according to AM Best.
P&C insurance stocks gain in August
US and European P&C insurance benchmark indices posted gains in August with equities buoyed by continued investor optimism even amid uncertainty surrounding the Delta variant of the coronavirus.
Fitch: Berkshire Hathaway overtakes AIG in E&S ranking by 2020 DWP
Berkshire Hathaway wrote more excess and surplus lines (E&S) premium in 2020 than AIG while the overall E&S market’s performance is tipped to improve this year after its combined ratio deteriorated to 107 percent last year, a new analysis from Fitch shows.
European carriers outpace US and Japanese rivals on fossil fuel restrictions
European (re)insurers continue to outpace their counterparts in the US and Japan in making commitments towards restricting underwriting for fossil fuels.
$18bn+ Ida brunt expected to weigh on personal lines
Hurricane Ida looks to be developing a loss profile where claims are more heavily weighted to personal than commercial lines – albeit less so than with last year’s Hurricane Laura – and where a meaningful share will be taken by the E&S market and reinsurers, both represented in Lloyd’s.
12 themes for #ReinsuranceMonth
If the Monte Carlo Rendez-Vous were to take place this month, what would be the major issues discussed? We have consulted with the oracles of the industry and this is our definitive list of the 12 macro themes that are driving CEO thinking. Throughout September, we will examine all of ...
AM Best: Reinsurance remains stable as improved pricing offsets claims concerns and abundant capital
AM Best has maintained its stable outlook on the global reinsurance industry with improved pricing trends in the majority of business lines helping to offset growing claims uncertainty – notably around Covid-19 - and what the agency described as an “abundance of capital”.
Aon: rate increases on large, complex umbrella/excess slow to 15% in Q2
Data from Aon has revealed a significant deceleration in average rate increases for large, complex umbrella/excess casualty accounts in the US from 44 percent in Q1 to 15 percent in the second quarter of 2021.
Private equity continues to strengthen its grip on the legacy market
The completion of CVC Capital’s ~$1bn takeover of legacy specialist RiverStone Europe from Fairfax Financial Holdings earlier this week marks the latest capital injection from private equity into the run-off sector.
Peak hurricane season set to compound above-average H1 cat losses
Tokio Marine latest P&C firm to fall victim of digital piracy as 2021 attacks continue
Corporate cat loss ratios set to exceed 2021 budgets as hurricane season escalates
P&C CR improves 5pp in H1 as reinsurance cession rate plateaus
Gallagher set to reap benefits after transformational Willis Re deal
MS Amlin: Turnaround still a work in progress, but bearing fruit…
Gallagher: First examples of upstream energy rate reductions appearing
AM Best: DCC expenses for MPL and product liability remain elevated among casualty lines
Aon: New capacity bringing equilibrium to challenging North American marketplace
Deceleration or cumulation – two ways to look at rate increases
Mixed performance for P&C insurance stocks in July
Gallagher report: D&O market “at the top of the pricing bell curve”
A time of plenty in the insurtech space – for some
June surge in P&C insurtech capital raises pushes Q2 total towards $3bn
US P&C carriers’ Q1 net profit rises despite cat-hit underwriting profit drop
WTW – $1bn compensation but you can’t put toothpaste back into the tube…
Cyber carriers target extension to internet outage waiting period
E&S premiums surge 22% in H1 2021
Hiscox looks to the future under Hussain
Rising German flood bill to heighten focus on European cat risk at early 1.1 discussions
Travelers: Focus on pricing, exposure growth, loss costs and inflation
Insurers warned on FCA’s “fair value” requirements
Analysts: Q2 carrier earnings to benefit from lower cats and investment gains
Reinsurer valuations continue to lag despite potential M&A interest
AM Best: Weather conditions suggest 2021 wildfire losses may exceed recent years
RSG Underwriting Managers revenues surged 36% in 2020
Cargo rates stabilise as new capacity continues to enter and competition intensifies
Generali’s latest Lion Re issuance highlights ESG credentials
Markets Review: US P&C stocks rally in H1 but underperform banks
European P&C stocks build on momentum to make H1 gains
S&P: US P&C sector poised to post sub-100% CR for fourth consecutive year
Renewable pricing continues to rise while US carriers’ offshore wind interest grows
Other liability occurrence DPW overtook workers’ comp in 2020
Aon-WTW: Is the DoJ shooting wide of the mark?
Cat reinsurers’ six C-19 loss objections as BI stalemate continues
Cali working group unveils recommendations to help tackle climate risk
ILS funds wrote half of Citizens’ traditional placement
Lloyd’s 2020 YoA optimism rises as Uri losses appear manageable
Large private fund raises continue even as public insurtech pressures mount
Fairfax celebrates Odyssey’s landmark 25th anniversary
Orderly Florida renewal for most leaves reinsurers disappointed at 1.6
Fiduciary market wakes up after explosion of excessive fee lawsuits in 2020
Furious pace of London broker M&A continues with $500mn Corant deal
Five key takeaways from the latest Lloyd’s forecasts give reasons for optimism
WTW Canada loses programs head Pires to NFP as recent exits near 30
Oregon fire season starts early with Lloyd’s firefighting policy secured
Lloyd’s syndicate forecasts remain stable in Q1 with no sign of Covid deterioration
Leadenhall the latest ILS fund manager to develop a rated platform
AM Best: MPL market facing one of its toughest periods in a decade
Willis Re – the other transformational deal of the decade…