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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.
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.
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.
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 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.
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.
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.
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.
Public D&O pricing levels will increase throughout 2020 but perhaps less intensely toward the end of the year, according to broker AJ Gallagher.
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”.
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…
The increasing use of deepfake technology has been identified as an emerging risk for the cyber insurance market this year.
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.
The leaders of Chubb and Travelers have provided interesting updates on their companies’, and the industry’s, exposure to child abuse claims.
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.
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.
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.
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’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.