Lara Mowery, Global Head of Distribution at Guy Carpenter, highlights how renewal discussions are focusing on the offsetting trends of underlying rate changes on casualty business and loss activity that has occurred in the past. ... Continue Reading »
Reins Markets
Property Retrocession at January 1, 2021 Renewals
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 »
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 »
Video: Cedent Differentiation at the Heart of the Casualty Renewals
Lara Mowery, Global Head of Distribution at Guy Carpenter, highlights how renewal discussions are focusing on the offsetting trends of underlying rate changes on casualty business and loss activity that has occurred in the past. While it will take time for the full impact of this to play out, Guy Carpenter is concentrating on the individual dynamics of the renewal and the ... Continue Reading »
COVID-19 Coverage Uncertainties and January Renewals
Reinsurance renewal negotiations are delicately poised, with increasing pressure on rates, economic uncertainty and disputes over COVID-19 wordings putting long-standing relationships to the test, according to a recent article in Insurance Day from Massimo Reina, CEO for Continental Europe at Guy Carpenter. ... Continue Reading »
The Changing Nature of Risk – Casualty Dynamics: Part II
The (re)insurance market is grappling with some key uncertainties that impact not only go-forward underwriting and pricing strategies, but also capital strategies for both servicing the legacy portfolio as well as growth as the market hardens, according to Christopher Ross, Managing Director, Guy Carpenter. ... Continue Reading »
