In this episode of The Insurer TV’s Prospective, Will Garland, Guy Carpenter’s President, Centers of Excellence, North America, talks about the impact on mid-year renewals of climate change, social inflation, ongoing claims development, and softening and stabilization of the catastrophe claims environment. ... Continue Reading »
reinsurance rates
2021 Mid-Year Reinsurance Renewal
A year after the onset of COVID-19 disrupted reinsurance renewals, market stabilization and ample capacity in most lines and regions resulted in balanced mid-year 2021 outcomes. However, market stressors driving shifts in recent loss activity and evolving risk quantification created firmer market conditions in some segments. The first six months of 2021 were marked with ... Continue Reading »
Chart: Guy Carpenter U.S. Property Catastrophe Rate On Line (ROL) Index – 1990 to 2021
The Guy Carpenter U.S. Property Catastrophe Rate on Line Index increased by six percent for January 2021 through July 2021 renewals – approximately half of the increase experienced over the same period in 2020. ... Continue Reading »
April Reinsurance Renewal Review
Here GC Capital Ideas brings together recent posts highlighting selected territories’ renewals. Japan: Prices increased in the range of 5 percent to 12 percent for loss-free programs covering catastrophe excess of loss windstorm, though there were outliers at either end of these ranges where specific factors applied. The average price for Japanese windstorm is now at a 25 ... Continue Reading »
April 2021 Reinsurance Renewals: Korea
Prior to the April 1 reinsurance renewals in Korea, expectations for pricing increases were quite high. While Korea had not experienced any impactful losses in recent years, a mid-sized typhoon, heavy rain losses and several large single losses occurred in 2020, influencing the pre-renewal expectations. However, capacity was more than sufficient and certain markets were ... Continue Reading »
April 2021 Reinsurance Renewals: Japan
At the April 1 reinsurance renewals, property catastrophe pricing increased for the third year in a row. Following the first loss-free year since 2018, there was some consolation for buyers in that the average increase was the lowest of the past three years. Rates moved up on average by a small percentage for mutual buyers. ... Continue Reading »
Renewals Season Roundup
As we head into the mid-year renewal season, GC Capital Ideas brings together posts highlighting the renewals that occurred at the beginning of the year along with early outlooks. ... Continue Reading »
Estimating the Impact of COVID-19 on the U.S. Medical (Re)Insurance Market
As the COVID-19 situation is changing on a daily basis, the impact to the insurance and reinsurance markets is not yet fully known. However, given the significance of the developments, Guy Carpenter provides our view of how COVID-19 may impact the medical (re)insurance market. ... Continue Reading »
Chart: Global Property Catastrophe ROL Index
The Guy Carpenter Global Property Catastrophe Rate on Line (ROL) index is presented for 1990 through 2020. ... Continue Reading »
Asia Pacific 2019: Guy Carpenter Asia Pacific Rate-On-Line (ROL) Index Rose
The Guy Carpenter Asia Pacific Rate-On-Line (ROL) Index rose in 2019; this was the first time in nearly a decade that the index did not decline. Price increases were not uniform across the region, but were targeted toward cedents or even specific layers that suffered losses. Consequently, following Typhoon Jebi, which occurred in September 2018, price increases were significant ... Continue Reading »
