Despite the global reinsurance sector’s “robust capital position” and “very high rate rises,” which are expected to “carry on for the remainder of year, and continue for major renewals in 2021,” S&P Global Rating’s credit outlook for the sector will …
Even before the coronavirus crisis hit, the re/insurance industry was in a period of significant rate hardening, which will likely continue over the next two years, or even longer, according to Munich Re. Such price increases became necessary after 10-plus …
Global reinsurance capital fell 6% to $590 billion for the first quarter of 2020, Aon reported in its June/July Reinsurance Market Outlook report. The report, which also looks at changes in reinsurance demand levels, hot-button reinsurance wording themes and primary …
How reinsurers will respond when cedents pay their insureds for COVID-related business interruptions remains an open question, legal and insurance professionals suggested recently, adding more wrinkles to an already complex claims situation. Illustrating some of the specific reinsurance coverage questions …
The official start of the Atlantic hurricane season on Monday could signal more steep losses for insurers and reinsurers, already battered by the impact of the coronavirus pandemic on their underwriting and investment positions. However, recent years of hefty damage …
Global reinsurers will fail to earn its cost of capital in 2020 amid the coronavirus crisis, which will help maintain price increases for the sector during the year ahead, said Fitch Ratings. Financial performance will be hit by mortality claims …
Almost exactly four years ago the World Bank announced a pioneering project, the Pandemic Emergency Financing Facility, designed to develop a new insurance market and protect the world’s poorest countries against deadly disease. The PEF, as it’s known, was supposed …
Total capital dedicated to the global reinsurance industry measured US$605 billion at year-end 2019, reflecting robust 15% year-on-year growth, according to Willis Re’s latest Reinsurance Market Report. This was primarily driven by 2019’s strong investment market performance and was achieved …
Aon plc, the global re/insurance broker, has enhanced its reinsurer trading portal, ABConnect Placements, to electronically bind treaty placements with Lloyd’s of London and International Underwriting Association (IUA) insurers. The new bind feature enables Lloyd’s and the London company markets …
Reinsurers were able to complete the April renewals smoothly, despite being forced to move to the new working-from-home model after the COVID-19 outbreak, according to Willis Re. “The global reinsurance market has shown immediate resilience to operating under the challenge …
