All Property Reinsurance articles
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NewsCat bonds slump in secondary market following Uri
A number of US-focussed cat bonds have seen their prices slump in the secondary market last week following concerns that the winter storm Uri increases the likelihood of them being triggered.
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News
Stonybrook shines light on opaque ILW pricing
Boutique advisory firm Stonybrook Capital has launched a service designed to make the pricing of industry loss warranty (ILW) contracts more readily available and transparent.
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News
Lemonade confident Texas losses will not impact reinsurance relationships
Lemonade’s share price closed down 16.6 percent on Tuesday after the insurtech warned of a spike in its loss ratio as a result of the Texas winter storm, while management said that its reinsurance structures will “play their designated role” in limiting its losses.
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News
FedNat in market for back-up cover after Texas winter storm
FedNat and its broker Aon have been in the market looking to secure back-up reinsurance protection following last month’s Texas winter storm, with the homeowners specialist also expected to restructure its 1 July cat placement to purchase a separate tower for its ex-Florida book, The Insurer can reveal.
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News
Hartford sees “high likelihood” of winter storm reinsurance recoveries
The Hartford’s management has commented that its losses from Winter Storm Uri are split “somewhat 50-50” between personal and commercial lines and are likely to hit the $250mn excess of $100mn layer of its reinsurance programme.
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News
BMS hires Cameron for US property treaty role
BMS has continued its US build-out with the addition of former Aon Benfield executive David Cameron as executive vice president for property treaty.
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News
Palomar spared from material Uri loss by reinsurance cover
Palomar Holdings does not expect to incur material losses from Winter Storm Uri because its reinsurance quota shares will kick in “from the first dollar of loss”, the specialty insurer revealed along with announcing a small adjusted net loss for the cat-hit fourth quarter.
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News
Palomar sell-off through Uri is overreaction: KBW analyst
The recent sell-off that has seen Palomar Holdings lose around 21 percent of its market cap since the start of Winter Storm Uri is “overdone” because of the significant reinsurance protections it now has in place, according to KBW analyst Meyer Shields.
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News
Suncorp over halfway into new agg XoL deductible in H1 2021
Suncorp is more than halfway through the A$650mn ($502mn) deductible on its newly minted aggregate excess of loss (AXoL) treaty at the midpoint of its 2021 financial year, after a six-month stretch in which it was hit with higher-than-budgeted-for natural hazard losses.
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News
K2 Cat renews Japan facilities with Peak Re, Taiping Re and Cathay Century
K2 Cat, which was formerly known as Pioneer Cat, has renewed its three property treaty facilities for Japan for 2021 with their existing carriers Peak Re, Taiping Re and Cathay Century Insurance.
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News
Contrasting fortunes among ILS managers as alternative capital declines
Overall assets under management (AUM) in the alternative capital sector fell by nearly 4 percent to $92bn over the first three quarters of 2020, as LGT, Fermat and Leadenhall were the only members of the top 10 fund managers that were able to increase AUM in the period, according to ...
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News
New capital and primary pricing led to “orderly and efficient” 1.1: Aon
The close to $24bn of “reinsurance related” public and private equity and debt raised by existing players and start-ups in 2020 combined with primary market pricing trends to help bring “calm amid the storm” at the key 1 January reinsurance renewal, according to broker Aon.
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News
IAG maintains A$10bn cat reinsurance cover with “modest” rate increase
Australian insurer IAG has finalised its catastrophe reinsurance programme for the 2021 calendar year, maintaining its gross reinsurance protection cover at up to A$10bn ($7.75bn).
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News
Guy Carpenter: Property renewals at lower end of expected increases
Reinsurance broker Guy Carpenter has added to the emerging consensus that property pricing generally settled at the lower end of expected increases at 1 January, with ample capacity available from incumbents and new entrants.
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News
Howden: London market casualty sees biggest increases in more than 15 years at 1.1
Loss inflation and lower interest rates drove London market casualty rates up 6 percent at the 1 January reinsurance renewal, the biggest year-on-year increase in more than 15 years, according to broker Howden.
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News
Mixed outcome for property reinsurers in Covid-influenced renewal
The final outcome of the 1 January renewal for property is likely to have disappointed many reinsurers, with European cat excess of loss rates flat to up 5 percent and US nationwide accounts up 5-15 percent if loss free and 10-25 percent with loss activity, according to Willis Re.
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News
Late property cat renewal shifts to moderate disappointment for reinsurers
Underwriters and brokers are gearing up to a hectic few days between Christmas and New Year as a late property cat renewal where terms and conditions and Covid-19 have played as much of a part as price looks set to come in just below reinsurer expectations of a few months ...
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Viewpoint
A eulogy for concurrency
Jeff Irvan, chief property officer at BMS, says non-concurrent reinsurance placements are becoming increasingly commonplace as quoting ranges widen…
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News
KBW: 1.1 property rate increase expectations see “modest deceleration”
Current property reinsurance rate increase ambitions for 1 January are “modestly below levels hoped for several months ago”, according to KBW, although the more fragile capital positions of Florida insurers suggests bigger mid-year increases could lie ahead.
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News
MNK Re hires Gallagher’s Bragg to lead international property fac division
Lloyd’s broker MNK Re has appointed Adam Bragg as managing director of its international facultative property division.
