S&P Predicts Reinsurers Will Continue Pricing Momentum During 2023
A hard market in short-tail lines — such as property and property catastrophe — across global geographies is likely to continue throughout 2023, after beginning the ...
Reinsurance
January Reinsurance Renewals Were Most Challenging in 2 Decades: MMC’s Doyle
The most challenging January reinsurance renewals in nearly two decades saw global property-catastrophe rate increases of 25-60 percent, with loss-affected clients facing ...
Climate Is Forcing the Most Risk-Aware Industry to Reinvent Itself
When it comes to climate impacts, the front line of the finance industry is insurance. Last year's payout from damages caused by extreme weather events totaled $120 ...
SCOR Says Swiss Re CUO Léger Is Next CEO
The SCOR Board of Directors has appointed Swiss Re Chief Underwriting Officer Thierry Léger as chief executive officer of SCOR. Léger will take up his post as CEO of SCOR with effect from May 1, ...
Insured Losses For Calif. Floods $3.5-$6.5B Below Total Loss: RMS
Moody's RMS estimates total economic losses from the recent California flooding at between $5 billion and $7 billion, and insured losses are anticipated to be between $500,000 and $1.5 billion, ...
No Class of 2023: Why Capital Is Sitting on the Reinsurance Sidelines
Until investors can be convinced that property-catastrophe reinsurance pricing has caught up with recurring event losses, they'll continue to sit on the market sidelines, a market executive said ...
1/1 Renewals: ‘They Got Done’; Carrier Overreliance on Reinsurers Corrected
When an AM Best analyst said, "Apparently, things didn't go that bad" to describe 1/1 reinsurance renewals during an online briefing on Monday, he wasn't actually saying anything unique. Carlos ...
It’s Not Over: Tough Times to Persist for Reinsurance
Repeating words like "frustrated" and "disappointed," which also punctuated earlier reinsurance broker reports on the Jan. 1 reinsurance renewals to describe buyers' reactions, Aon suggested that the ...
Reinsurers Retreat From U.S. Disaster Hotspots on Climate Risks
Reinsurers are increasingly reconsidering their business in natural disaster-prone locations including California and Florida as losses mount, according to Moody's Investors Service. Climate change ...