- Newslink Global Insurance Trends-The Week
- Aon releases 2019 Cyber Security Risk Report
- Europ Assistance Cyber Barometer explores consumer sentiment on Cyber Security across nine countries
- Conning study suggests US workers' compensation insurance results of recent years are poised for change
- AMICE highlights the impact of disparate and excessively burdensome regulation on the mutual and cooperative insurance workforce
- AIG reports loss of $622m in fourth quarter-CEO Duperreault "expects to achieve an underwriting profit entering 2019 in General Insurance"
- Allianz reports highest ever operating profit of E11.5bn in 2018 expired
- Digital Risks achieves Lloyd’s coverholder status expired
- Santam selects further Guidewire solutions expired
- RMS U.S. Wildfire High Definition (HD) Model released expired
- deVere Group acquire in UAE expired
- The Hanover to join RSA's Global Network as a Strategic Network Partner in the US 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)