This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. The Board of the Texas Windstorm Insurance Association (TWIA) has today approved a $485 million budget line item for ceded reinsurance and catastrophe bond spend for 2025, which is up 22% on the $397 million spent on protection…
Category: Reinsurance renewals
Property cat renewal rates seen down 5% – 10%, retro could fall 10% – 20%: BMO analysts
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. After a trip to Bermuda to speak with reinsurance executives on the island, analysts from BMO Capital Markets said the expectation seems to be that 2025 renewals will see property catastrophe reinsurance rates fall between 5% and 10%,…
Reinsurance pricing base case for 2025, a reversion to ~2023 levels: J.P. Morgan
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. Analysts at J.P. Morgan believe that the reinsurance market may simply wind back the clock one year at renewal seasons in 2025, with the firm’s base case for reinsurance pricing being for a reversion to roughly 2023 levels….
Florida Citizens lifts reinsurance and cat bond risk transfer target to $4.5bn for 2025
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. Florida’s Citizens Property Insurance Corporation, the state’s insurer of last resort, is currently projecting a need to budget for a larger tower of reinsurance and catastrophe bonds in 2025, with almost $4.5 billion of risk transfer being discussed….
CEA risk transfer shrinks 6% more to $7.99bn on non-renewals. To re-evaluate at 1/1
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. The California Earthquake Authority (CEA) did not come back to the reinsurance market at its typical October 1st renewal, allowing roughly $511 million of cover to expire and it now expects to re-evaluate its risk transfer need at…
Property reinsurance renewal stability forecast. No hardening despite hurricanes: AM Best
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. At the January 2025 reinsurance renewals, rating agency AM Best is anticipating that property and catastrophe reinsurance rates will remain relatively stable and that despite recent hurricane losses the market is not likely to harden, but also softening…
TWIA needs almost $5.8bn in reinsurance for 2025, as CRTF eroded by Beryl, PML rises
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. The Texas Windstorm Insurance Association (TWIA) is looking at another relatively significant increase in its reinsurance purchase next year, as it projects it may need almost $5.8 billion of reinsurance and catastrophe bond limit, due to the near-erosion…
Reset in retentions to continue. Rates to trade around current levels: RenRe CEO O’Donnell
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. Giving an outlook for reinsurance renewals in 2025, Kevin O’Donnell, CEO of RenaissanceRe, explained last week that he anticipates retentions will remain around the levels they have been reset to, while rates will trade around current levels, despite…
More upside on average in retaining more risk as K-Cessions shrinks: Althoff, Hannover Re
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. Earlier this year we reported that global reinsurance company Hannover Re was assessing its risk management need in relation to its K-Cessions quota share sidecar for the second year running, with a potential reduction to be expected and…
CEA risk transfer shrinks 7% to $8.5bn, as ~$650m of reinsurance not renewed
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. The California Earthquake Authority (CEA) elected to not renew some $648.5 million of traditional reinsurance that expired at July 31st 2024, resulting in its reinsurance and risk transfer program shrinking by 7% to $8.5 billion. That’s based on…