Global Non-Life Reinsurance Market Outlook by AM Best
AM Best has released the Market Segment Outlook: Global Reinsurance report on the outlook for global non-life reinsurance, maintaining a stable view
AM Best has released the Market Segment Outlook: Global Reinsurance report on the outlook for global non-life reinsurance, maintaining a stable view
April 1 is an important renewal for the Asia Pacific region, dominated by Japan, which is home to some of the world’s largest catastrophe reinsurance placements
New reinsurance capital formation is limited, and investors remain concerned about the impact of climate change and inflation
The property catastrophe bond market supported new and repeat insurance, reinsurance and government sponsors
Global reinsurance dedicated capital totaled USD 638 bn. When reported on an economic basis, solvency not only remained strong
Pricing cycles in the commercial insurance and reinsurance sectors are now converging, marked by price increase moderation overall for the former, albeit with strengthening
IAIS collected data on the global reinsurance market through annual Global Reinsurance Market Survey covered about 50 reinsurers based in nine jurisdictions
Lapse reinsurance originally emerged as a capital optimisation solution following the implementation of Solvency II
The April 1 reinsurance renewal season has seen a continuation of the discipline shown by reinsurers at January 1 but with a greater determination that pricing
Property reinsurance rates rose significantly at the renewals. The losses from Hurricane Ian last year were a contributory factor
Seismic shifts in the macroeconomic environment – combined with geopolitical uncertainty and heavy natural catastrophe losses – led to a severe tightening of capacity
Climate risk has once again been the catalyst for insurance and reinsurance market change. Major losses caused by extreme weather events in recent years
For the global reinsurance industry, activities in 2023 and renewals for 2024 were set against a backdrop of significant economic and geopolitical uncertainties
Global reinsurance market has faced a very late, complex and in many cases frustrating renewal 1/1. Two areas of most constraint were peak-zone US property catastrophe
Pricing cycles in the commercial insurance and reinsurance sectors are now converging, marked by price increase moderation overall for the former
While insurers may have winced at the spike in property-catastrophe prices at the Jan. 1 renewals, the resulting rate hikes and new policy terms should spur investor interest
While there was sufficient capacity to meet the reinsurance needs of cedants at 1.1, it is also true that the amount of reinsurance capital being deployed was diminished in 2022
The “key focus” will be on how high reinsurance costs will impact their operating margins and how much risk exposure they keep on their own balance sheets
According to Global InsurTech Report, 2022 has been a year of macro-realism (for many InsurTechs, investors and risk partners), micro company hardship
Bermuda reinsurers expected improved underwriting performance in 2024 will be driven by accelerating premium rates with a market reset in pricing
The most challenging January 1 renewal in a generation as the reinsurance market underwent a fundamental shift in pricing and risk appetite
The global reinsurance market has endured a complex and in many cases frustrating renewal process which has gone down to the wire, according to the 1st View January
The year 2022 can be characterized as one of the most challenging years in recent decades from the social, financial, political environment points of view
In the negotiations taking place on contract renewal, it has turned out that the international insurance industry is no longer willing to agree on coverage for Russia and Belarus
In response to high inflation, central banks have hiked their base rates, which, in turn, can impact the balance sheets of (re)insurers as a result of fixed-interest securities falling in value