H2 catastrophe activity may drive stronger reinsurance pricing at Jan 1, says S&P
Add in the claim totals of the Marshall Fire in CO and other 2021 catastrophes
https://www.reinsurancene.ws/industry-braced-for-5bn-us-tornado-bill-survey-data-suggests/
[snip] - AM Best expects losses to be concentrated in the commercial multiperil and homeowners lines, with some losses borne by auto physical damage.
Overall there’s a belief among analysts that, despite it still being too early to fully assess damage, the industry is well capitalized enough and has adequate risk management programs for this to be an earnings event for the industry.
H2 catastrophe activity may drive stronger reinsurance pricing at Jan 1, says S&P
Dec 30
Luke Gallin
With insurance and reinsurance industry losses from catastrophe events once again above the $100 billion mark in 2021, price increases at the key January 1st, 2022 renewals could be stronger than in previous years, according to S&P Global Ratings.
In recent years, price momentum at 1/1 has disappointed reinsurers amid heightened losses from natural catastrophes, the lower for longer interest rate environment and the impacts of systemic risks such as the pandemic and climate change.
But with the Jan reinsurance renewals fast approaching, analysis by S&P’s Ben Dyson suggests that the heavy nat cat experience in the second-half of the year, which includes Hurricane Ida and the European floods, could push reinsurers for stronger price rises.
https://www.reinsurancene.ws/top-50-reinsurance-groups/
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