Rates

Did the reinsurance market get served a half-empty or half-full glass at the January renewals?

JLT Re said risk-adjusted global catastrophe rates still lagged below 2016 levels after the broker's global rate-on-line index rose by 4.8 percent at 1 January, in the first increase since 2012.

Willis Re said that global catastrophe reinsurance pricing ranged from flat to up 7.5 percent year-on-year at the January 2018 renewals, as reinsurers were rebuffed in their attempts to seek more meaningful increases.

AM Best has said that the record insured losses from the October fires in the wine-producing area north of San Francisco were "within insurers' risk tolerances" and that carriers hit by California wildfire claims would not face ratings actions

Validus Re's first cat bond has priced significantly below the initial marketed target range despite the recent HIMM losses

The Caelus Re 2017-1 class C layer is pricing down following the latest series of wildfires in California, Trading Risk can reveal.

Florida's state-backed carrier Citizens has planned for an 8 percent rise in its private risk-transfer costs in 2018, following this year's global catastrophe losses.

Covea Group's EUR90.0mn ($106.8mn) maiden Hexagon Re cat bond has settled below the lower end of the initial price target range, according to sources

Investment bank Jefferies said there remains a $20bn gap between (re)insurer loss estimates from Q3 catastrophe events and anticipated industry losses, as it predicted loss creep would fuel rate increases in 2018.

Is 10-20 percent up the new flat?

The ILS market has not yet fully replaced the capital lost or trapped as a result of this year's hurricane events, Horseshoe Group CEO Andre Perez said during an ILS Bermuda event held in London today.

Twelve Capital has predicted that the private ILS or collateralised reinsurance market will see premium rate increases ranging from 10 to 30 percent in 2018, depending on the line of business