-
The Florida-focused carrier obtains reinsurance protection for a 1-in-400-year event.
-
Florida's state-backed insurer is set to buy $1.42bn reinsurance for the 2018 season. -
Florida reinsurance premium rates are expected to rise within a single digit range a year after Hurricane Irma.
-
Early signs indicate third-party capital is being deployed aggressively in the Florida market.
-
The insurer’s cat losses contributed to a general insurance underwriting loss.
-
The reinsurance market’s traditional pricing cycle will be put on “life support” as ILS capacity remains abundant, said Willis Towers Watson Securities in its latest ILS market update.
-
Reinsurers were pushed back in their attempts to increase US property rates at the April renewal, with loss-free cedants even demanding slight decreases, Willis Re said in its 1st View report.
-
Several Florida cat bonds among new second quarter ILS transactions have set tight pricing precedents that will undoubtedly be used by insurers to try to keep a lid on rate movements in the upcoming mid-year renewals.
-
US commercial property insurance rate increases are already showing signs of slowing in the face of a well-capitalised P&C industry buoyed by an appetite for alternative capital, according to Willis Towers Watson.
-
Willis Re said global catastrophe pricing was broadly flat in an "uncontentious" April renewal, as it noted a dramatic change to the reinsurance landscape as primary carriers re-entered the market through M&A deals.
-
Pricing on Japanese catastrophe programmes has been flat in the latest renewals, despite attempts from reinsurers to leverage the 2017 cat losses to secure improved terms.
-
Several Floridian insurers are looking to lower their reliance on the state-backed reinsurance fund in 2018, bringing a small amount of new demand into the market.
