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April 1, reinsurance renewals see price increases: Willis Re



On April 1, the Renewal Renewal Book increases as much as 25% to disaster-loss accounts, while some deficits and disaster losses were flat in some cases, according to a report issued Monday by Willis Re, Willis Towers Watson PLC's reinsurance unit.

The largest increases of 15% to 25% were for accounts in Japan affected by disaster losses, even when the loss-free accounts of the disaster were lowered than 7.5%, the report noted.

In the United States, disaster loss accounts increased by 5% to 20%, while losses without disasters were flat, according to Willis Re data.

Risk-loss accounts increased between 2.5% and 10%, and risk-free accounts were flat in the US, data shows.

"Reinsurance companies are encouraged by improvements in primary levels across many classes and territories. These primary rate hikes filter to reinsurance prices," the report said. on non-loss hit classes and programs, "Wills Re said. "There are no new signs of generalized hardening across the market and pricing is still rational. Consequently, the observation from our January 1

primary rate interest rate moving faster than treaty rates still applies."

The report said April 1, renewals showed a " rational "pricing.

"When the global reinsurance market looks to address today's supply / demand imbalance, to be able to demonstrate a stable and rational base, an increasingly important role is played when developing and marketing solutions for new buyers and core customers," says James Kent , the global CEO of Willis Re, London. a statement issued with the report.


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