Rates
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Investor interest is warming up following a colder spell over the past several years. -
While rates have “definitely come down,” they were coming off a high base, Rachel Turk said.
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Terms are expected to hold, underpinning the stronger recent performance of reinsurers.
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Dedicated reinsurance capital is on track to increase by 8% in 2025, the broker said.
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Last year marked the second consecutive year in which carriers made a positive return.
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The reinsurer’s chair said cat pricing reductions are at a “miniscule level”.
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The model becomes the second in the state to get approval to affect ratemaking applications.
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The investment consultancy said yields increased in Q2 by less than could have been expected.
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The cost comes in at $530.6bn, roughly $20mn lower than budgeted.
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Florida’s top regulator says he’s eyeing eventual tweaks to the state’s cat fund, too.
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The rating allows IQUW to access $1bn in group capital.
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Compressed cat bond spreads could drive some rebalancing, as M&A remains a prospect.
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Twia filed for the rate hike in August after an actuarial analysis showed that rates were inadequate.
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The rate change will be implemented in November.
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The board of directors has voted for a 10% rate hike.
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Twia’s analysis showed existing rates were inadequate.
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The broker estimated ILS capacity reached a record $107bn as cat bond interest surged.
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The proposal now goes to the Florida Office of Insurance Regulation for review.
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The ratings agency noted robust profit margins for reinsurers.
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Top layer competition is an added pressure on ILS firms, but the impact can be overstated.
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The firm received a long-term ICR of a- and the outlook for both ratings is stable.
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European rates on line increased by 7.60%, while in the US prices were up 5.25%.
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The broker’s report also hailed the best risk-adjusted margins for ILS investors in a decade.
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The broker’s 1st View report predicted that cat bond issuance should remain elevated until at least Q2 2024.
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Reinsurers are making some adjustments to secure target signings but appetite to grow is finely balanced.
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Projected 2024 ILS returns remain historically high, but signs of increased appetite for top-layer cat risk and top-end retro raise questions over how long this will last.
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Anticipations of a tug-of-war around a ‘flat to slightly up’ pricing renewal have indeed come to fruition.
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Profits are expected to widen thanks to improved rates and higher average attachment points.
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TWIA has raised its net operating expenses to $40.2mn.
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E+S Rück said that natural disasters and persistently high inflation have again "taken a toll" on the German insurance industry.
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Fermat’s John Seo said the industry can “see the wall of money coming in, but it’s coming in slowly”.
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Prabis does not envisage market softening at this stage, for reasons including wider macroeconomic impacts.
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The downgrades reflect the negative impact of challenging macro-economic trends on underwriting results and risk-adjusted capitalization.
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Board members voted five to four in favor of rate increases but fell short of the two-thirds majority required.
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The ratings agency is currently in discussions with Clear Blue’s management regarding the company’s ability to replace certain programs or letters of credit.
