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MGAs that are good operators will stick out compared to the rest. -
Property, cyber and workers’ comp rates were all down mid-single digits, offsetting casualty hardening.
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Rachel Turk was speaking on an Aon Reinsurance Renewal Season panel.
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An average of 81% of property accounts renewed flat or down.
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As the Great Japanese M&A Contest develops, the executive said inorganic expansion is “a top priority”.
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State Farm is under investigation as its premiums have been rising “drastically".
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Shared and layered accounts are seen as reaping the biggest benefits.
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Growth concerns were top of mind at this year’s conference.
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Property underwriters are ‘competing fiercely’ to access mining risks.
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As both carriers and reinsurers deal with softening markets, all eyes are on hurricane-prone areas.
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The request cites use of Verisk’s forward-looking wildfire model.
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Insurers continue to compete on price, especially in the SME sector.
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Trailing three month premiums were up 7.2% versus 13.1% in August.
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Juries don’t significantly differentiate in cases involving severe injury.
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California’s insurance regulator has Fair Plan depopulation, cat models on his mind.
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Rates continue to be favorable for buyers across major lines of coverage.
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Global pricing is now 22% below the mid-2022 peak.
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The proposed changes aim to establish clear guidelines for intervenors.
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IBHS CEO Roy Wright says insurers need a comprehensive approach to resilience.
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Winners and losers will emerge more clearly, with less opportunity to ride the market wave.
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Litigation funders are promoting “aggressive” tactics in the UK, Holland and Israel.
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Despite high profile losses, there’s ample capacity in marine and aviation, while PV has seen healthy profits.
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All rates were up on a year-over-year basis, except for workers’ compensation.
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Rates will remain elevated in a period of structurally higher risk premia.
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Growth in the SME sector could help stabilize the market, however.
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The rest of 2025 appears poised to remain favorable for insureds, however.
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California, Florida and Texas all saw decreases in monthly premium growth.
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Some 32% of survey respondents expect property cat rates to fall by more than 7.5%.
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Rates are finally flattening, but it’s unclear if stabilization is enough for insurers’ bottom line.
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Last year marked the second consecutive year in which carriers made a positive return.
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Capacity has gone up slightly, with new entrants and incumbents feeling better about their books.
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The program is aimed at affluent homes valued between $1mn and $6mn.
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GL and workers’ comp, however, may benefit from a more competitive environment.
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Ongoing pricing headwinds stand to weigh on carriers’ returns and valuations.
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This is the first rate filing to use the recently approved Verisk model.
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