Willis Chairman and CEO Joe Plumeri sees "smaller, localized waves" replacing the the "rising tide that lifts all boats" when it comes to the insurance-pricing cycle. Willis sees a leveling off in commercial-property pricing in 2013, while casualty risks will likely see more increases.
Catastrophe losses in 2011 led to the U.S. P&C industrys largest underwriting loss since 2002, according to A.M. Best. And while the latest MarketScout barometer shows that 2012 began with another month of commercial-lines rate increases, Best maintains that a true hard market is likely at least a year or...
Economic risk is the top concern on business professionals minds going into 2012, according to two new, separate surveys conducted by Allianz Global Corporate & Specialty (AGCS) and the World Economic Forum.
Catastrophes caused significant 2011 first-half underwriting losses for U.S. property-and-casualty insurers, driving the industrys net income for that time period to $6.9 billiondown 67 percent relative to the year before, according to an A.M. Best special report.
Pricing in commercial lines and reinsurance appears to be firming, according to reports, and Moodys Investors Service has upgraded its outlook on both sectors to stable from negative.
Companies continue to report the impact of second-quarter catastrophes, with Bermuda-based Arch Capital Group Ltd. saying it expects losses of between $90 million and $110 million, of which 15 percent is updated first-quarter loss estimates.
Property and casualty excess capital remains robust, although it has declined since July 2010, an analysis shows, while a separate analysis strictly on reinsurers shows a 6 percent decline in capital for the 2011 first quarter as companies contend with, among other issues, insured catastrophe losses.
Simultaneous reports were released from Willis, Lockton, and Fitch discussing pricing trends, underwriting results, and catastrophe impacts on the commercial insurance market. We help you make sense of it all by providing a summary of each inside.
In his first annual shareholders meeting address, American International Group President and Chief Executive Officer Robert Benmosche highlighted the company's strong 2010 first quarter results.
Insured losses from the Deepwater Horizon Drilling Platform explosion will likely total about around $1.4 billion, but are not expected to significantly impact this niche marketplace or buying behaviors.
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{
"uri": "/2012/10/10/willis-sees-mixed-market-in-2013-as-plumeri-discus/",
"title": "Willis Sees Mixed Market in 2013 as Plumeri Discusses Changing Nature of Pricing Cycle",
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"summary": "Willis Chairman and CEO Joe Plumeri sees "smaller, localized waves" replacing the the "rising tide that lifts all boats" when it comes to the insurance-pricing cycle. Willis sees a leveling off in commercial-property pricing in 2013, while casualty risks will likely see more increases.",
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{
"uri": "/2012/02/09/2011-cats-drive-underwriting-losses-2012-begins-with-rate-increases/",
"title": "2011 Cats Drive Underwriting Losses; 2012 Begins With Rate Increases",
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"prettyDate": "February 09, 2012",
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"summary": "Catastrophe losses in 2011 led to the U.S. P&C industrys largest underwriting loss since 2002, according to A.M. Best. And while the latest MarketScout barometer shows that 2012 began with another month of commercial-lines rate increases, Best maintains that a true hard market is likely at least a year or...",
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{
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"summary": "Economic risk is the top concern on business professionals minds going into 2012, according to two new, separate surveys conducted by Allianz Global Corporate & Specialty (AGCS) and the World Economic Forum.",
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{
"uri": "/2011/10/06/u-s-pc-first-half-net-income-dives-67-market-stable-but-not-hardening/",
"title": "U.S. P&C First-Half Net Income Dives 67%; Market Stable But Not Hardening",
"byline": "Phil Gusman, Mark E. Ruquet",
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"prettyDate": "October 06, 2011",
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"summary": "Catastrophes caused significant 2011 first-half underwriting losses for U.S. property-and-casualty insurers, driving the industrys net income for that time period to $6.9 billiondown 67 percent relative to the year before, according to an A.M. Best special report.",
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{
"uri": "/2011/09/09/commercial-reinsurance-pricing-firms-as-moodys-improves-outlooks-to-stable/",
"title": "Commercial, Reinsurance Pricing Firms As Moody’s Improves Outlooks To Stable",
"byline": "Phil Gusman, Mark E. Ruquet",
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"summary": "Pricing in commercial lines and reinsurance appears to be firming, according to reports, and Moodys Investors Service has upgraded its outlook on both sectors to stable from negative.",
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{
"uri": "/2011/06/30/second-quarter-cat-loss-estimates-roll-in/",
"title": "Second-Quarter Cat Loss Estimates Roll In",
"byline": "Phil Gusman, Mark E. Ruquet",
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"prettyDate": "June 30, 2011",
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"summary": "Companies continue to report the impact of second-quarter catastrophes, with Bermuda-based Arch Capital Group Ltd. saying it expects losses of between $90 million and $110 million, of which 15 percent is updated first-quarter loss estimates.",
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"uri": "/2011/06/23/reports-show-pc-capital-declining-but-still-strong/",
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"summary": "Property and casualty excess capital remains robust, although it has declined since July 2010, an analysis shows, while a separate analysis strictly on reinsurers shows a 6 percent decline in capital for the 2011 first quarter as companies contend with, among other issues, insured catastrophe losses.",
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"title": "An Analysis of Commercial Market Trends",
"byline": " Phil Gusman, Mark E. Ruquet ",
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"prettyDate": "May 03, 2011",
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"summary": "Simultaneous reports were released from Willis, Lockton, and Fitch discussing pricing trends, underwriting results, and catastrophe impacts on the commercial insurance market. We help you make sense of it all by providing a summary of each inside.",
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{
"uri": "/2010/05/16/aig-on-road-to-recovery-but-volatility-possible-ceo-says/",
"title": "AIG On Road To Recovery, But Volatility Possible, CEO Says",
"byline": "Phil Gusman, Mark E. Ruquet",
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"prettyDate": "May 16, 2010",
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"summary": "In his first annual shareholders meeting address, American International Group President and Chief Executive Officer Robert Benmosche highlighted the company's strong 2010 first quarter results.",
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"uri": "/2010/05/09/insurers-expect-1-5b-oil-rig-loss-with-limited-impact-on-overall-market/",
"title": "Insurers Expect $1.5B Oil Rig Loss, With Limited Impact On Overall Market",
"byline": "Phil Gusman, Mark E. Ruquet",
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"prettyDate": "May 09, 2010",
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"summary": "Insured losses from the Deepwater Horizon Drilling Platform explosion will likely total about around $1.4 billion, but are not expected to significantly impact this niche marketplace or buying behaviors.",
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