Losses from fires and floods are joining the traditional perils of earthquakes and hurricanes as drivers of insured losses. While uncertainty remains over what the future holds for them, new capacity won’t save cedants from upward pressure on rates, a panel finds.
Dirk Herrenpoth, chief underwriting officer of NewRe, is confident that the favourable market environment for reinsurers will continue, driven by the current loss situation.
Taking advantage of strong growth opportunities in Europe, fast-growth markets and global lines, its focus will be on non-cat lines, says Launay.
Demand for reinsurance in Latin America may grow in the second half of 2021, bolstered by uncertainty over risks and improved pricing for primary insurers.
After a volatile year, Swiss Re spies significant growth for re/insurance in the years to come, despite the pandemic showing up some significant blind spots and points of contention which need improving.
CFO reports improved performance driven by higher rates and efforts to eliminate underperforming business lines, and a strong balance sheet.
COVID-19 has highlighted the need for new mechanisms to enable governments and insurers to cover systemic risks.
Hannover Re has joined other leading reinsurers at the Rendez-Vous in predicting that the combination of uncertainty from the pandemic and rising losses elsewhere will fuel further price rises at the January renewals.
Buyers' survey indicates reinsurance price growth to slow to low single digits.
The company has hired an experienced specialist financial lines broker from Besso Insurance.