Rates

Rates

Europe, Rates, Regulation, Renewals, Results

Capital needs to drive insurers demands

At the Guy Carpenter Reinsurance Symposium on , 25 October 2009, Victor Peignet, CEO of SCOR Global P&C presented SCOR’s analysis of the reinsurance market and the outlook for the upcoming 2010 renewals.

Brokers, North America, Rates, Regulation

Plumeri condemns return to contingent arrangements

Willis Group Chairman and CEO Joe Plumeri has hit out at any return to the use of contingent commissions for brokers telling a group of influential business leaders his firm will never take such commissions.

Bermuda, Financial Institutions, Rates, Renewals

CEO says positive renewals for new look PartnerRe group

PartnerRe President & Chief Executive Officer Patrick Thiele has said the group is pleased with its performance during the January 1 renewals, the first since the acquisition of Paris Re.

Energy, North America, Offshore, Rates, Risk Management

Offshore market will struggle to attract capital warns energy chief

The offshore energy market has been warned that unless it meets the challenge of how to price catastrophe risks, particularly in the Gulf of Mexico capital providers will start to shun the sector.

Brokers, Energy, MENA, Rates, Risk Management

Marsh to host National Oil Companies as price fluctuations spell concern

The Chairman of Broker Marsh’s energy practice has warned that National Oil Companies need to prepare for ongoing price volatility as the global economy emerges from recession.

Broking, Energy, MENA, Rates

Marsh predicts softening energy rates in 2010

A resurgent level of capital and with it increased competition is set to drive down premiums across the energy market in 2010 according to broker Marsh.

Europe, IUMI, Marine, Rates

Marine underwriters warned not to get cut throat

The annual gathering of global marine underwriters opened in Belgium this week with its president warning that the shipping market and with it the marine insurance prospects will get worse before they get better.

MENA, Rates, Regulation, Risk Management

Insurers warned they may be told to exit Iranian risks

A leading political risk analyst has warned that global underwriters could be dragged into the front line of the United States’ ongoing dispute with Iran over its nuclear ambitions.

Financial Institutions, Lloyd's, London, Market Reform, Rates

UK insurance Plc feels the pinch as recession bites

The London market’s performance in 2008 was the key to the ability of the UK insurance sector to rise out the economic crisis new figures reveal.

Energy, Losses, North America, Rates, Renewals

Gulf of Mexico remains a reluctant risk for reinsurers.

The marine and energy market in the Gulf of Mexico have been told the availability of reinsurance capacity will continue to come under pressure as the losses continues to mount.

Broking, Claims, North America, Rates, Renewals

Rates under pressure at January 1 renewal says broker

The global reinsurance market has been hit by a triple whammy which has seen rates come under pressure for the key 1 January renewals according to broker Guy Carpenter & Company.

Europe, Financial Institutions, Rates, Renewals

FI sector is back in fashion for year ahead

Increasing numbers of underwriters are looking at the Financial Institutions market for the year ahead sparking fears that the rates will start to fall as 2010 progresses.

Having been hit hard by the financial collapse in 2008 and last year market analysts and brokers say there in now a renewed interest in the sector and the they believe there is now a real possibility that additional new capacity will enter the market.

Bermuda, Claims, Energy, Rates, Renewals

Bermudans announce new energy operations

The energy market has two new entrants after Bermudan underwriting groups Ironshore and Torus announced new units which will deliver new capacity into the onshore and casualty energy markets.

Brokers, Claims, Energy, Losses, North America, Rates

Energy buyers baulk at rate rises

The battle between clients and underwriters over the pricing of energy programmes is expected to continue according to one leading broker.

Brokers, Claims, Europe, Financial Institutions, Rates

D&O market faces rate falls as economies recover

The recoveries in corporate share prices and indications that the global economy is rebounding have put pressure on the cost of D&O coverages as the market heads to the January 1 renewals.

Broker Aon has said it has seen a 2.7 percent drop in the cost of cover for the fourth quarter of the year compared to the previous three months.

Catastrophe, North America, Rates, Risk Management

Underwriters warned not to let the cat out of the bag by model reliance

The insurance industry will never look to brig catastrophe modelling in house as the huge investment needed to build cat models would make it uneconomic and provide a significant barrier to new entrants.

Aviation, Claims, Europe, Rates, Risk Management

AXA says its space programme still on target

The head of the space operations of AXA Corporate Solutions in Paris has said the firm is confident it will hit its target of becoming a major player in the market within the next three years.

Aviation, Brokers, London, Rates, Renewals

Underwriters and airlines on course to clash at renewal says report

With the major airlines set to renew their insurance programmes in the final quarter of the year one broker has predicted that the underwriters and airlines are set to clash over their differing approach to rates.

Aviation, Europe, Rates, Risk Management

Aviation sector warned on the advance of the unmanned market

One of the world’s leading experts on the new breed of Autonomous Unmanned Vehicles (AUVs) has told the London insurance market it need to prepare for the demands of a sector which has grown faster then any other in the history of aviation.

Aviation, Brokers, Europe, Rates, Results, Risk Management

Major airlines will need to fight to limit premium increases

With the coming two months signalling the renewal of the insurance programmes for many of the world’s major airlines, broker Aon is predicting that the heavy level of claims already suffered this will see underwriters looking to push through double digit rate rises.

Claims, Liability, North America, Rates, Results

Space market in profit as launches buck recession

Barring a major end of year disaster the space insurance market looks to have delivered a payload of profit for the year according to a leading broker.

Aviation, Marine, MENA, Rates

Specialty operation opens in Dubai

The Industrial insurance unit of German giant Allianz, Allianz Global Corporate & Specialty (AGCS), is to open a new regional hub office it has announced.

Asia Pacific, Aviation, Claims, Losses, Rates

GIC admits it has liabilities on trio of recent aviation losses

Indian financial group General insurance Company (GIC) has revealed it was the lead reinsurer on the crashed Iranian the Caspian Airlines Tuppley TU-154 aircraft which crashed in the country’s north western province of Kaswin with the loss of 168 passengers and crew.

Claims, Energy, Lloyd's, North America, Rates

Chaucer and Willis in energy platform deal

Lloyd’s underwriting group Chaucer has announced it has formed a strategic partnership with broker Willis Group’s subsidiary Global Special Risks, (GSR), to create a new energy platform for US energy risks.

Aviation, London, Rates

Catlin recruits senior aviation figures as rate levels take flight

As pressure on aviation rates to rise continues Catlin Group has undergone a major recruitment effort to bolster its teams in preparation for the market to take off.

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