Rates

Hardening in the financial lines market has been exacerbated by fears over Covid-19.

The equity research firm names Beazley as most exposed to the price growth within casualty because of its US hospitals business.

The broker foresees price increases into 2022 and beyond.

This comes after Everest Re previously let a mid-year renewal lapse, with ILS capacity scarce.

ADIA, Crestview and CVC back a fundraise equivalent to 45 percent of pre-transaction equity.

Willis’ Q1 commercial lines pricing survey showed a 6% rate increase, flat from Q4 and higher than all other 2019 quarters as large accounts recorded double-digit increases.

Economic uncertainty has impacted pricing, but deal activity continues to progress, says NFP’s Carl Nelson.

Deals got home but with modified structures and steep rate hikes.

Property catastrophe reinsurance rates rose by 26 percent at the 1 June renewals, according to the London broker.

With pricing accelerating and talk of a once-in-a-generation hard market, the P&C market continues to be talked about as entering a period of peak opportunity.

Aggregate market pricing could now be up 30 percent, with distressed clients forced to pay considerably more.

The state-backed reinsurer's treaty was led by RenRe and Swiss Re in 2019.