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The vast majority of business has still not been transacted owing to brinksmanship on both sides. -
The Q1 pricing report provides further evidence that carriers are pushing for rate and attempting to manage exposures as loss-cost trends bite.
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Insureds are resisting rate rises after another loss-free year for offshore wind risks.
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Reinsurers recognize the need for more rate for the risk being ceded, O’Donnell said on the firm’s Q1 call.
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Sector posts profit in 2018 but mounting concerns mean challenges are on the horizon.
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Everest Re executives were relatively optimistic about P&C (re)insurance pricing.
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New firm order terms point towards less significant rises for clients with stronger records but still significant increases.
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Arch CEO Marc Grandisson said the company shows “prudence and patience” in the P&C marketplace.
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Chubb CEO sees market as “rational” and expects “continued forward momentum”.
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The Californian carrier is to revise programme after handing $216mn wildfire loss to reinsurers.
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Executives are optimistic about the insurer’s ability to drive stronger returns given rate trends.
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Discussions started early, but the complex negotiating environment means firm order terms could be delayed.
