All 1 January renewals articles – Page 2
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NewsHardest renewal market in years as industry approaches 1 April
A shortage of capacity in property catastrophe markets has resulted in the hardest market since 9/11
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NewsNat cats will continue to test reinsurers in 2023 - Moody’s
However, strong price increases coupled with higher investment income from rising interest rates will boost profitability
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NewsMunich Re exceeds 2022 profit guidance
Reinsurer targets €4 billion profit in 2023 as chairman Wenning praises firm’s resilience after €1.6 billion Ian hit
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NewsHannover Re sees property cat rate hikes of 30%
Prices and conditions ’not seen in decades’ was present at 1 January, as reinsurer looks to mid year
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NewsSCOR rebalances book during ‘best market in decades’
Reinsurer further reduces exposure to natural catastrophe risks by 14% at 1 January
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NewsHesitant capital remains sidelined despite rating improvements - AM best
High levels of nat cat losses, coupled with rising inflation and geopolitical concerns, is denting appetite for property cat
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NewsSwiss Re’s three renewals takeaways
Capacity conundrums, late negotiations, rate increases and tighter wordings all came into play at 1 January
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News1/1 renewals put ‘stress’ on long-term relationships
There was an evident mismatch in demand and supply for property reinsurance as global capital fell by 17 percent - Aon
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NewsConsilium names Paul Richards Co-CEO
He will lead the business as Co-CEO alongside James Baird who was appointed CEO in November
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NewsReinsurers’ underwriting margins to expand in 2023
Fitch believes some property catastrophe risks could become uninsurable as industry capital shrinks by 15%
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NewsFema cuts NFIP reinsurance programme for 2023
Its reinsurance placement has halved to $500m, amid hardening rates and diminishing capacity
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News1/1 ‘down to the wire’ with possible reputational consequences
Areas of most constraint were peak-zone US property cat and coverage for war and SRCC, finds Gallagher Re’s 1st View
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News1 January confirms dislocated reinsurance and retro markets
Some US buyers failed to fill their programmes as Howden describes one of the ‘hardest reinsurance markets in living memory’
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News1/1 renewal is the ‘most challenging’ sector has experienced - Guy Carp
There are still placements to complete as broker compares dislocated market to post-9/11 and KRW
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NewsProperty rates set to soar 50% at 1/1 - Beazley
Beazley is ready to ‘step up’ at a time of market dislocation, says Treaty head Patrick Hartigan
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NewsSpecial Report: Road to 1/1
It was straight to business this year as reinsurers, brokers and cedants entered one of the most challenging renewal seasons in years
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NewsFlorida buyers will struggle for capacity at 1/1 - Fitch
Rating agency predicts double-digit rate rises for property catastrophe cover driven by insured losses of c.$120 billion
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News1/1 renewals will test industry’s relevance
The renewals period represents a time to move towards, not away from risk, says Aon’s Andy Marcell
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NewsBaden Baden: Expect further retrenchments post Ian - Ariel Re
Trapped collateral and a global retro freeze will further exacerbate supply demand imbalances at 1/1
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NewsBaden Baden: German motor insurers face 2022 underwriting loss
Ongoing supply chain disruption and inflation are impacting German motor books
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