- Newslink Global Insurance Trends-The Week
- EIOPA announces results of 2018 Stress Test-on aggregate, the sector is adequately capitalised to absorb the prescribed shocks
- EIOPA publishes report on the Evaluation of the Structure of Insurance Intermediaries Markets in Europe in accordance with Article 41(5) of the Insurance Distribution Directive(IDD)
- Fire and explosion incidents cause the largest claims for insurers and the businesses they cover, according to new research from Allianz Global Corporate & Specialty(AGCS)
- CII expands communications team with two new appointments
- LIIBA welcomes proposed Bilateral Agreement between the US and the UK on Prudential Measures Regarding Insurance and Reinsurance (US-UK Covered Agreement)
- LIIBA CEO says“The number of risks bound by brokers through PPL has risen by 350% in the last 12 months” expired
- London Market Group(LMG) announces that all managing agents involved in live delegated authority business have signed up for its Delegated Authority: Submission, Access and Transformation Solution(DA SATS) expired
- London Market Group (LMG) announces launch of the Future Workforce Think Tank expired
- Slice Labs announces availability of Insurance Cloud Services(ICS) in the UK and EU-Legal & General first customer expired
- MAPFRE reorganizes its management in Brazil and MAPFRE Asistencia, and reinforces its digitisation push expired
- QBE completes Group’s portfolio simplification expired
23rd September 2018
Standard & Poor's reports on Monte Rendez-Vous
At the 62nd "Rendez-Vous de Septembre" in Monte Carlo, S&P Global Ratings discussed reinsurance pricing and the latest market trends with reinsurers, insurers, brokers, and other
market participants. Monte Carlo 2018 has not altered S&P's view that the reinsurance sector faces weak business conditions, even after the modest price increases in 2018. THey have maintained their stable outlooks on the sector and
most of the reinsurers they rate, based on their robust capital adequacy and strong enterprise risk management.
The main discussion points this year were related to long-term issues: the pick-up in merger and acquisition (M&A) activities, how reinsurers are adjusting their strategies to remain relevant, the persistence of alternative capital, whether the recent modest reinsurance price increases will carry into 2019, cyber risk, and the sector's reserve adequacy. To a lesser extent, the conversation also encompassed recent catastrophe events such as Typhoon Jebi in Japan and Hurricane Florence in the US.
The rating agency expects reinsurance pricing to stabilize as we head into 2019, and considers that alternative capital is here to stay. Many reinsurers are turning to M&A
in a bid to remain relevant, and spoke about how reserving policies could lead to greater volatility. Meanwhile, cedants are becoming more aware of how they could be affected by cyber risk and existing policies are being
rewritten to more clearly delineate the cyber risk embedded within them.
Standard & Poor's Trends(490 articles)