Reinsurers in a sentence

Heading into the January 2024 renewals, Guy Carpenter believes “demand for reinsurance will grow with reinsurers’ willingness to deploy capital also increasing, although underwriting discipline will not subside.

Like Khasnis, Iten said the picture looks less bleak on the reinsurance side, with the distribution of outlooks for individual reinsurers starting to shift in a positive direction.

Markets for war insurance for ships calling at Russia remain in crisis after key reinsurers withdrew some of their cover, while oil tanker costs have already spiked once in the run up to the implementation of crude sanctions.

Reinsurers were benefitting from the front-line experience of primary carriers, and insurers benefitted from the capital relief, given the immaturity of the line of business.

We feel pretty good about the market and I would say I thought the sustainability of reinsurance, Rick, both with reinsurers and with the capital markets.

We have seen that for the past six years,” he said, reporting that catastrophe losses have been nearly three percentage points above their reinsurers’ cat budgets in each of those years.

An early Aon analysis, puts the average 2023 combined ratio of global reinsurers at around 90, and the average return on equity at roughly 18%.

Many reinsurers, for example, were feeling the profit pinch and needed to raise rates, reduce line sizes and lower attachment points.

It has also grown its investor base to more than 250 unique participants, including investors, insurers and reinsurers.

While the above loss emergence has thus far been prevalent in the U.S. primary market, some reinsurers are also experiencing similar adverse results, Carpenter said.

The consortium launched its first live product on R3’s Corda platform, with a list of members that includes big insurance and reinsurers companies like Allianz and Munich Re.

For the records, Hurricanes Harvey, Irma and Maria, as well as two recent earthquakes in Mexico likely cost the insurance industry about $95 billion, said Swiss Re, one of the world’s biggest reinsurers.

Something is rotten in the state of Danish banking, the reinsurers of the world want nothing to do with coal, and Sky News is hunting for a new boss.

The reduced writings were driven by a smaller capital base, lower reinstatement premiums and greater cessions to third party reinsurers, partially offset by price improvements during the January and June renewals.

This will keep pressure on reinsurers’ margins, particularly in markets with significant collateralised reinsurance, and this year’s modest pricing momentum after the 2017 catastrophes is unlikely to continue into 2019.

Without the backing of global reinsurers, Indian insurance companies will find it difficult to manage the risk.