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Analysis

GC property cat ROL index – 1990 to 2020

Guy Carpenter remains an upbeat outlier on 1.1 rates as Swiss Re adds to caution

Guy Carpenter remains an outlier on its 1.1 renewals stance as Swiss Re became the latest firm to strike a more cautious note when it published its FY 2019 results today.

1.4 Japan renewal preview

Payback expectation to test relationship-driven Japanese renewal

All parties in the Japanese wind renewal are working to address a significant mismatch between the 50-80 percent rate increases reinsurers have been initially seeking from cedants that are unlikely to countenance paying 50+ percent more for cover at 1 April.

BPL Global’s Portfolio- Regional Exposures

CPRI market to diversify from ‘bedrock’ risks amid environmental pressures: BPL

With an increasing number of insurers turning away from covering coal-related exposures, players in the credit and political risk insurance (CPRI) market – heavily reliant on the extraction industries – will face increasing pressure to change their risk appetites.

Covea vs Partner Re

PartnerRe vs Covéa – a $9bn comparison

News of PartnerRe’s potential sale to Covéa has triggered concerns from rating agency Moody’s over the post-integration credit implications for PartnerRe, which would hinge on Covéa’s management of its catastrophe exposures.

AM Best – Cargo ship

P&I pricing under pressure ahead of renewal

AM Best has commented that strong competition and challenging commercial conditions mean pricing remains under pressure ahead of the 20 February deadline for ship-owners’ marine protection and indemnity (P&I) renewal.

Lexington and RSUI

E&S carriers reveal rate hikes accelerating and broadening into 2020

Management for the parents of major excess and surplus lines (E&S) writers Lexington and RSUI have revealed impressive statistics for just how much rates and submissions changed in the fourth quarter.

Southeast wind single event PMLs

Axis slashes PMLs and increases use of third party capital

Axis Capital has significantly cut its probable maximum loss (PML) for peak cat exposures and made increasing use of its growing third party capital platform as part of a wider repositioning of its portfolio to deliver stronger and more stable underwriting results.

Brian Duperreault aig

Duperreault not focusing on top line despite AIG’s return to underwriting profit

AIG has revealed strong price increases on its earnings call, but CEO Brian Duperreault stressed the insurer is still focused on making sure the portfolio is “rock solid” before turning to growth mode.

D&O

D&O rate hikes to lessen in second half of 2020: Gallagher

Public D&O pricing levels will increase throughout 2020 but perhaps less intensely toward the end of the year, according to broker AJ Gallagher.

Raw material claims – distribution of material counts and averagesize by claim size band

R&W pricing correction expected despite strong competition

A Gallagher analysis of the representations and warranties (R&W) insurance market states that recent claims trends suggest “it is reasonable to suspect a small pricing correction is forthcoming”.

Broker M&A

AJG disclosures suggest $300mn+ Capsicum Re sale value but reality more complicated

AJG hasn’t revealed how much it paid for Grahame Chilton’s reinsurance intermediary Capsicum Re last month but The Insurer sieves through the SEC filings to estimate its enterprise value…

Cyberpic 900px

Deepfake videos among cyber risks to watch in 2020

The increasing use of deepfake technology has been identified as an emerging risk for the cyber insurance market this year.

Cyber

Cyber market reaches inflection point as prices rise higher

Large organisations are facing premium increases of 5-15 percent as cyber insurance carriers begin reining in capacity to a $5mn policy limit, while mounting aggregations will likely increase the use of reinsurance.

New York city

Why reviver claims will take time to come into focus

The leaders of Chubb and Travelers have provided interesting updates on their companies’, and the industry’s, exposure to child abuse claims.

1.1 renewals rate changes

European reinsurance renewals to disappoint: KBW

The “limited” rate increases achieved by European reinsurers at the important 1 January renewals will likely be absorbed by model changes and inflation rather than dropping to profit, according to analyst Keefe, Bruyette and Woods.

Optis Partners

Acrisure led record North America agent/broker M&A in 2019

The number of North America agent and broker mergers and acquisitions increased to its highest annual total in 2019 with 649 transactions – up from 643 in 2018 and 611 in 2017 – according to figures from Optis Partners.

RPS

Pockets of E&S property market seeing triple-digit rate hikes

Risk Placement Services (RPS) has predicted the US commercial property insurance market will continue to firm for at least the first half of 2020, with E&S writers “still playing catch-up” and ILS and MGA capacity reducing.

Moody's – Europe

Brexit transition threatens European insurers with UK exposure: Moody’s

European insurers are unlikely to be disrupted during the 11-month transition period as the UK leaves the trading bloc, although continental carriers with the highest UK exposure could see their underwriting profit dented come year end.

Aon

Aon takes reinsurance revenue top spot despite GC-JLT Re combo

Aon’s Reinsurance Solutions arm has taken the top position as measured by revenues from its rival Guy Carpenter based on 2019 financials, analysis by The Insurer reveals.

NYSE, exterior

US class action filings in 2019 – the figures are in

The final figures for US securities class action filings last year have been released – and they do not make comforting reading for D&O insurers.