Keyword
Reinsurance
How inflation is factoring into reinsurance results
October 17, 2022 by Jason ContantThe first half of 2022 saw robust premium growth and generally strong underwriting results for global reinsurers, but inflation remains a wild card, according to the latest Aon’s Reinsurance Aggregate (ARA) report series from one of the world’s largest brokerages.…
The good and bad news for reinsurers
August 31, 2022 by Jason ContantThe global reinsurance industry appears to be in a “state of equilibrium,” with positive and negative factors countering each other, according to a new report from AM Best. Despite lingering economic and operational challenges stemming from the COVID-19 pandemic, AM…
Why global reinsurers are high-fiving right now
August 17, 2022 by Jason ContantFor the first time in five years, global reinsurers posted an underwriting profit, albeit a small one. The average combined ratio of the Top 10 global reinsurers was 99.2% in 2021, significantly better than the 104.9% posted in 2020, credit…
Reinsurer makes executive changes after M&A deal closes
July 13, 2022 by David GambrillPartnerRe Ltd. made a few executive-level shuffles Wednesday, marking the close of a December 2021 deal in which Covéa agreed to buy Partner Re from Exor for $9 billion in cash. Thierry Derez, CEO of Covéa Group, is replacing Brian…
OSFI softens stance in new reinsurance guidelines
February 14, 2022 by David GambrillOSFI has softened its stance on two of the Canadian P&C industry’s key concerns in the solvency regulator’s final published guidelines on Sound Reinsurance Practices and Procedures (B-3) and Property and Casualty Large Insurance Exposures and Investment Concentration (B-2). Revised…
Should PACICC purchase reinsurance?
January 13, 2022 by Jason ContantCanadian P&C insurers have expressed mixed views about whether the Property and Casualty Insurance Compensation Corporation (PACICC) should purchase reinsurance to mitigate the impact of a natural catastrophe-triggered default of a member insurer. However, a PACICC industry consultation paper found…
What Canadian insurers paid for reinsurance in Jan. renewals
January 5, 2022 by David GambrillReinsurance rate increases for catastrophes in Canadian property lines depended on whether the carriers’ portfolios took a hit last year, with 10% to 20% rate increases for catastrophe portfolios that took a loss, and 5% to 10% increases for those…
Where the industry stands with OSFI’s redrafted reinsurance rules
November 4, 2021 by Jason ContantWhen the Office of the Superintendent of Financial Institutions (OSFI) released its reinsurance discussion paper in 2018, it created quite a stir in Canada’s property and casualty insurance industry. The association representing Canadian P&C insurers, the Insurance Bureau of Canada…
How much are reinsurers underestimating climate change risk?
October 18, 2021 by Jason ContantGlobal reinsurers could be underestimating climate change exposure by up to 50%, according to a recent analysis by S&P Global Ratings. “Our scenario analysis suggests that reinsurers’ estimates of their exposure to natural catastrophe risk — and therefore physical climate…
Outlook for reinsurers improves post-pandemic
September 8, 2021 James Langton, Investment ExecutiveDespite a recent string hurricanes, floods, wildfires and other natural disasters, the outlook for the global reinsurance sector is improving, according to rating agencies Moody’s Investors Service and Fitch Ratings. In a new report, Moody’s said the outlook for the…
A.M. Best unveils new estimate of reinsured COVID losses
September 3, 2021 by Greg MeckbachRecognized COVID-related losses are about US$40 billion for the global reinsurance industry, A.M. Best Company Inc. said in a reported released Aug. 30. Original estimates of insured COVID losses “easily exceeded” twice that US$40 billion figure, “with around half the…
How reinsurance prices could come down
June 29, 2021 by Greg MeckbachRecord-low interest rates are making insurance-linked securities attractive to some investors, and this could be good news for primary insurers. ILS includes but is not limited to catastrophe bonds, said Marcos Alvarez, Toronto-based senior vice president and head of insurance…