Subject: Renewals Page 7 / 8
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- March 2 2023
Scor’s combined ratio deteriorates to 113.2%, GWP climbs 4.9% to US$21bn
The French reinsurer's 2023 estimated gross premium income from Asian emerging markets is down to 10% from 12% last year.
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- February 23 2023
Asian fleets boost P&I clubs’ renewals
After a tough start, many clubs saw close to 50% renewed gross tonnage coming from Asia.
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- February 20 2023
Swiss Re’s 1.1 Asia renewals grow 35%
The global reinsurer benefited from the expansion of property and motor lines in the region, in addition to rate increases.
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- February 17 2023
Asia P&I club renewals go down to the wire
Rate increases, drawn-out negotiations and the lunar new year delay February 20 renewals in the region.
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- February 13 2023
Auckland floods and Turkey earthquake add pressure on upcoming renewals
Recent disasters are likely to trigger reinsurance payouts and add to the capacity woes and rate increases that's been vexing renewals.
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- February 9 2023
Hannover Re cuts APAC premium volume by 21.6% in 1.1 renewals
The German reinsurer cut back on proportional treaty in Malaysia and China, but XOL premiums filled some of the void.
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- February 8 2023
Suncorp misses H1 cat allowance by US$69m, books 94.5% Australia COR
Australian insurance profits rose 142%, helped by a US$104m Covid BI provision release.
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- January 30 2023
Asia 1.4 renewals to bring more rate hikes and tough negotiations
Nat cats are set to impact the Philippines, while global trends will push up pricing in India and Japan.
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- January 19 2023
Competition cushions China renewals
Despite tough market conditions, cedents managed to extract some concessions.
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- January 17 2023
Domestic market dynamics reshape Asean renewals
While rating downgrades shook up Indonesia, carriers sought ‘payback’ for Malaysian floods.
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- January 12 2023
IAG renews Berkshire quota share agreement, ceases equity deal
The restructured transaction extends till the end of 2029, but removes limits on Berkshire's shareholding in the carrier.
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- January 12 2023
Reinsurers’ underwriting margins to grow by 4%: Fitch
Property and specialty enter hard market with up to 200% increase in premium rates.
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- January 10 2023
Capital squeeze takes the wind out of Asia marine renewals
War and sanctions have impacted January 1 placements, but far less than the capacity crunch.
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- January 9 2023
IAG increases maximum first event retention by 75% at 1.1 2023 renewal
IAG cited inflation and market conditions behind the decision. It also renewed quota share deals with Munich Re and Swiss Re.
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- January 9 2023
Asian 1.1 renewals may have been ‘the big reset’
Past the deadline, the market is still busy tying up loose ends and closing gaps in cover.
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- January 5 2023
Howden identifies reinsurance tailwinds despite tough 1.1 renewals
The broker pointed to growing demand, tighter terms and increased prices.
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- January 4 2023
Asean, China rates up 20% in ‘late and tense’ 1.1 renewals: Gallagher Re
Retro deductibles and pricing rose across the region, while reinsurer exits hit Korea, Australia placements.
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- December 30 2022
Renewals largely completed at client-issued structures, pricing: Guy Carpenter
Property was the most challenged sector with market adjustments focused on pricing, attachment and coverage.
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- December 26 2022
Updated: Asian 1.1 renewals ‘toughest in living memory’
Retro constraint and nat cat losses leading to backlogs in a renewals season said to be 'challenging on all fronts'.
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- December 23 2022
Retro exits deal another blow to fraught Asian renewals
Cutbacks are causing delays further down the line and retro-dependent carriers are no longer confident of obtaining adequate capacity.
