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How ILS Can Support Additional Re/Insurance Capacity for Cyber Risk
Insurance-Linked Securities (ILS) have played a key role in allowing catastrophe risk to be transferred from the commercial insurance market to investors, providing much needed additional...
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Life, Accident & Health Reinsurance Industry Activities & Renewals 2023
For the global reinsurance industry, activities in 2022 and renewals for 2023 were set against a backdrop of significant economic and geopolitical uncertainties. The Russia-Ukraine war continues to...
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Climate Risk & Weather-Related Re/Insurance Industry Losses Review
Climate risk has once again been the catalyst for insurance and reinsurance market change. Major losses caused by extreme weather events in recent years exceed historical precedent, driven by a myriad...
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Global Economy & New Drivers of Re/Insurance Sector Growth
The global economy is in a precarious position in 2023. The war in Ukraine has superseded COVID-19 as the dominant economic driver, even as China continues to grapple with fresh outbreaks. The...
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2023 Global Reinsurance Market – a Hardest Market for Last 30 Years
Seismic shifts in the macroeconomic environment – combined with geopolitical uncertainty and heavy natural catastrophe losses – led to a severe tightening of capacity and a highly challenging period...
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Re/Insurance Underwriting Results. Drivers of Natural Catastrophe Loss Growth
Property reinsurance rates rose significantly at the January 2023 renewals. The losses from Hurricane Ian last year were a contributory factor, but signals for a market correction had already been...
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Reinsurance Renewals: Rates Movements & Pricing Trends
The April 1 reinsurance renewal season has seen a continuation of the discipline shown by reinsurers at January 1 but with a greater determination that pricing and contract improvements are applied...
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Reinsurance as a Mitigation Tool for Global Life, Accident & Health Market
The global economy is going through a phase featuring peaking inflation and low growth. The IMF forecasts that global growth will fall from 3.4% in 2022 to 2.9% in 2023, before recovering to 3.1% in...
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IAIS Reinsurance Market Survey: Premiums, Assets, Retention & Distribution
IAIS collected data on the global reinsurance market through annual Global Reinsurance Market Survey covered Top 50 reinsurers based in 9 jurisdictions: Bermuda, France, Germany, Japan, Luxembourg,...
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Global Reinsurance Market 2024: Challenging Renewals & Realignment
The convergence of geopolitical and macroeconomic shocks – war in Europe, fractured energy markets, 40-year high inflation, interest rate hikes, depleted capital – as well as the second most expensive...
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Global Reinsurance Industry Results FY2022: Capital & Underwriting Performance
Global reinsurance dedicated capital totaled USD 638 bn as of the end of 2022, a decline of 12% versus the restated 2021 base. When reported on an economic basis, solvency not only remained strong but...
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ILS, Cat Bond & Post Hurricane Ian Reinsurance Market Update Q1 2023
ILS and property catastrophe bond market supported new and repeat insurance, reinsurance and government sponsors, and maintained an orderly manner despite the macroeconomic headwinds facing the...
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Global Reinsurance Capital in Q1 2023: Reduced Asset Prices Erode Book Values
The imbalance in property catastrophe reinsurance demand and supply at January 1 showed signs of easing at the April 1 renewal, where we were able to place property catastrophe limits, albeit at a...
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April 2023 Reinsurance Renewal by Regions: Market Moves to Stable Footing
April 1 is an important renewal for the Asia Pacific region, dominated by Japan, which is home to some of the world’s largest catastrophe reinsurance placements. According to AON, the challenging...
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Global Non-Life Reinsurance Market Outlook by AM Best
AM Best has released the Market Segment Outlook: Global Reinsurance report on the outlook for global non-life reinsurance, maintaining a stable view on the market’s prospects. Positive pricing...
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How Global Aviation Re/Insurance Market Has Gone Through a Turbulence?
The aviation re/insurance market has gone through a turbulent few years, with the impact of the COVID-19 pandemic, geopolitical shocks and macroeconomic challenges; events that have affected the...
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Financial Performance of Leading Reinsurers in the Global Market
Reinsurers’ underlying underwriting results were generally strong despite the unusual amount of volatility in the capital markets. Significant unrealized investment losses on bond portfolios weighed...
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Natural Catastrophes & War Made 2022 a Tough Year for Lloyd’s Syndicates
A swath of natural catastrophes and the Russia-Ukraine war made 2022 a tough year for some managing agents at Lloyd’s of London, according to S&P Global Market Intelligence. Blenheim Underwriting...
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Global Reinsurance Property Catastrophe Market Outlook
The past year and half have seen major changes in the global Reinsurance Property Catastrophe (CAT) market. In the recent reinsurance renewals we have seen robust price improvements, increased net...
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Florida Hurricane Catastrophe Fund’s Losses & Insurance Claims Outlook
Florida Hurricane Catastrophe Fund, the so-called CAT Fund, plays a vital role in Florida’s property-insurance system as it provides relatively low-cost reinsurance, which is backup coverage needed by...
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Reinsurance Market is a Critical Part of Florida’s Insurance System
Reinsurance market — a critical part of Florida’s P&C insurance system — is improving as Florida insurers try to bounce back after two years of homeowners losing policies and facing major rate...
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Reinsurance Rates for U.S. & Florida NatCat Policies: 2023 Renewal Trends
U.S. property catastrophe reinsurance rates rose by as much as 50% at a key July 1 2023 renewal date, with states such as California and Florida increasingly hit by wildfires and hurricanes. Climate...
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Global Natural Disasters Figures: $100 bn Insured Losses
2023 is a continuation of the recent run of years with high losses from natural disaster. While the overall losses of $110bn were lower than those in 2022 ($120bn), they were still well above the...
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3 Ways How Re/Insurers Can Accelerate Net Zero & Decarbonization
The emerging impacts of climate change are increasingly felt across the reinsurance industry, with much uncertainty ahead. But the industry now has a chance to transform volatility into opportunity....
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Global Reinsurers Underwriting & Investments: 1H2023 Review
Global reinsurance groups are cutting back on the cover they provide against medium-sized natural catastrophe risks due to investor pressure after several years of large catastrophe losses and...
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Global Non-Life Insurance Industry Adjustes Rapidly to Higher Interest Rate
The global non-life insurance industry is adjusting rapidly to the new higher interest rate era ushered in by the most intense monetary policy tightening since the 1980s. Swiss Re Institute expects...
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Fitch Ratings Revised Global Reinsurance Sector Forecasts for 2024
Fitch Ratings has revised its global reinsurance sector outlook to ‘improving’ from ‘neutral’ to reflect the sector’s strengthening financial performance into 2024. Rising reinvestment yields and...
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War Exclusions in Cyber Insurance are Centre Stage as Re/Insurers
Whilst there have been no cyber attacks of comparable scale since the invasion of Ukraine, the scope of cyber insurance, and the war exclusions issue specifically, has taken centre stage as carriers...
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2024 Reinsurance Renewals: Reinsurers Increasing Appetite for Catastrophe...
Ahead of the Jan. 1, 2024 reinsurance renewals, reinsurers’ overall appetite for US regional property catastrophe coverage remains healthy, but carriers are proving less willing to provide aggregate...
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Reinsurance Rates Will Continue to Rise in 2024 Year
S&P Global has raised its view of the global reinsurance sector to stable from negative, due to higher reinsurance rates and increasing investment income, while Moody’s kept its outlook for the...
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2024 Global Reinsurance Rate for Property Catastrophe Forecasts
Reinsurance rate increases for property catastrophe business are likely to slow to below 10% on average when contracts are renewed in January 2024, according to Fitch Ratings. Improvements in...
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Underwriting Margins for Reinsurers Will Reach Peak in 2024
The underwriting margins for reinsurers are anticipated to reach their peak in 2024, driven by significant price increases and stricter terms and conditions established in 2023 and during the renewals...
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Global Reinsurance Market Report: Reinsurers’ Capital & Profitability
Global reinsurance groups reported a significant improvement in underwriting profitability and ROEs in 2023, which supported an increase in their capital base to the highest level, according to...
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Global Reinsurance Capital & Catastrophe Bond Market Dynamics
Global Reinsurance market conditions since 1/1 have continued to move in favor of reinsurance buyers. At the start of last year, property catastrophe capacity was constrained. According to Aon’s...
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Reinsurance Renewals at April 2024 by Regions: Capacity & Trends
Reinsurance renewals at April 1 consolidated the progress made at 1/1, as ample capacity and increased competition for catastrophe reinsurance led to improved outcomes for the majority of insurers....
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Primary & Secondary ILS Market Quarterly Review
Insurers and reinsurers leveraged alternative capital in 2023 more than any year in the history of the reinsurance market. In 2023, alternative capital crossed the $100 billion threshold, representing...
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Florida’s Reinsurance Market Saw a Pause in 2024
Florida’s reinsurance market, after three years of significant rate hikes, saw a pause in 2024. Despite the slight softening, reinsurers viewed the outcome positively, according to Gallagher Re...
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Top Tips for 2024 Reinsurance Market Renewals
Mid-year reinsurance renewals have further consolidated the positive trends at 1/1 and 4/1, setting the stage for a more competitive reinsurance market in 2025. However, the market emerging from last...
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Global Reinsurance Capital: New Peak Reached in 2024
Aon estimates that global reinsurer capital rose by $25 bn to a new high of $695 bn over the three months to March 31, 2024. The increase was principally driven by retained earnings, recovering asset...
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2024 Reinsurance Renewals Come Amid Growing Reinsurer Appetite
The mid-year reinsurance renewals occurred against a continued increase in reinsurer appetite as overall reinsurance capacity grew. This uptick in capacity occurred against a backdrop of strong...
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