Property retrocession renewals were watched closely at January 1 as some observers expected hardening market impacts to be significant. However, rate movements on non-loss-impacted programs were not as robust as many anticipated and continued to moderate closer to January 1. ... Continue Reading »
Reinsurance Markets
Casualty Sector at January 1, 2021 Renewals
Casualty renewals for the January 1, 2021 period varied widely, depending on individual circumstances including loss experience, covered lines and industry classes written. Every placement experienced some degree of continued reinsurance underwriting rigor around stress factors broadly encompassed by social inflation, the low interest rate environment and communicable disease. ... Continue Reading »
Property Renewal Themes at January 1, 2021
Pricing for the property sector generally settled at the lower end of expected increases outside of more constrained segments at January 1. Where placements were loss impacted, particularly in cases where retentions were perceived to be too low, reinsurers held firmer on pricing or structure adjustments. ... Continue Reading »
Rate Movements Moderated by Availability of Capacity as Negotiations Center on Pricing and Terms at January 1, 2021 Renewals
Price increases at the January 1, 2021 reinsurance renewals were moderated compared to initial expectations by abundant capital levels and an increased willingness on the part of reinsurers to deploy capacity in several sectors, according to Guy Carpenter. ... Continue Reading »
Video: (Re)insurance Startups – The Class of 2020
As capital continues to be drawn to the opportunity of improved pricing conditions across the (re)insurance market, the emerging class of 2020 (re)insurance startups is expected to bring both long-term and committed solutions to brokers and cedents, according to Lara Mowery, Global Head of Distribution at Guy Carpenter. ... Continue Reading »
Video: Negotiating the Fine Print of Pandemic Coverage Exclusions
Changes in reinsurance terms and conditions, notably the exclusion of pandemic cover in new and renewing contracts, will be a key feature of discussions as January 1 renewal negotiations come to a close in the coming days. ... Continue Reading »
Reinsurance Resilience and Value: Protecting our Planet and the Public Purse
The global reinsurance market has been fundamental to the management and mitigation of risk for over 150 years. Guy Carpenter's Protecting our Planet and the Public Purse report examines how the reinsurance market's innate ability and desire to innovate and evolve through different market cycles and periods of change has helped to strengthen the market’s resolve and resilience ... Continue Reading »
California Wildfire Fund: Protecting our Planet and the Public Purse
Following the devastating wildfires that raged across California in 2017 and 2018, the state’s legislature and governor took steps to fund mitigation efforts and provide post-disaster relief to affected homeowners. Guy Carpenter's Protecting our Planet and the Public Purse report takes a look at how public-private partnerships such as the California Wildfire Fund can aid these ... Continue Reading »
COVID-19 Perspectives Series Part I: Q&A with David Priebe, Chairman, Guy Carpenter
Guy Carpenter Chairman David Priebe offers COVID-19 insights on economic and legislative issues, (re)insurance renewals and brokers’ and carriers’ roles, in an interview with The Insurer held on March 30. This is Part One of a three part series. ... Continue Reading »
Navigating the Insurtech Market
Innovation has been a priority for many Life, Accident and Health insurance carriers. The need for innovation is driven by consumers demanding a more customer-centric experience. According to a 2019 study by J.D. Power (1), the overall customer satisfaction for providers of annuity products and life insurance providers is lower compared to most other insurance and financial ... Continue Reading »
