LONDON–(BUSINESS WIRE)–Kroll Bond Rating Agency Europe Limited (KBRA) releases a report on January 2020 reinsurance renewals.
In KBRA’s view, market sentiment is slightly positive albeit below expectations of most reinsurers. The market remains very fragmented with no clear direction and traditional cycles are a thing of the past. Loss-prone programs in property and specialty lines reported substantial rate increases, while moving sideways for other programs.
The European casualty business showed some hardening but there is still some pressure on the US motor and US professional liability lines.
The January 2020 renewals showed ample capacity as traditional capital growth offset a decline in alternative capital. Large reinsurers are likely to maintain significant excess capital positions, even after continuing share buybacks and/or special dividends.
KBRA believes that the January 2020 renewals were slightly credit positive for the leading global reinsurance groups, based on their flexibility to reallocate capacity to hardening lines of business.
To access the full report, click here.
Related Publications: (available at www.kbra.com)
- Quarterly (Re)Insurance Insights
- U.S. Property and Casualty Insurance 2020 Outlook: Bedrock Capital Underpins Stability
- Environmental, Social and Governance (ESG) Considerations by Sector: Insurance
CONNECT WITH KBRA
About KBRA and KBRA Europe
KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider, and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.
Rötger Franz, Senior Director
+44 208 148 1001
Carol Pierce, Senior Director
+1 (646) 731-3307
Donna Halverstadt, Managing Director
+1 (646) 731-3352
Mauricio Noé, Senior Managing Director
+44 208 148 1010