Reinsurance
Reinsurers adjust costs, aerospace premiums unaffected
Market has remained competitive, driven by overcapacity and stable demand.
Swiss Re forecasts higher demand for reinsurance
Demand for property and specialty reinsurance is rising due to higher property values.
APAC reinsurers see combined ratio improve to 91.6%
Many are also expanding internationally to boost profitability.
Reinsurance capital to rise 9% to $620b in 2024
Risk appetites continued to improve through H1 2024.
Japan's insurance market tightens amidst increased disasters
Japan’s 3 major groups account for 86% of net premium income.
Howden Re cites severe weather, SRCC as major reinsurance losses
Challenges in casualty lines include risks from autonomous vehicles.
Reinsurers hit record $695b capital in June 2024
However, Aon predicts more pricing competition in 2025 for insurers.
Reinsurance sector to remain profitable through 2025
The sector achieved record profits in 2023 and the first half of 2024, said Fitch Ratings.
Reinsurers benefit from higher rates, restrictive policies
A slowdown in property reinsurance price hikes next year is still anticipated.
Reinsurers urged to discipline performance amidst casualty risks
Combined ratio forecasted to remain between 92% and 96% in 2024 to 2025.
China Re’s H1 2024 net earnings triples to $830m
EPS stood at RMB0.13.
ILS market expands to $46b amidst rising reinsurance prices
Investors have reaped substantial benefits from wider risk margins.
Global reinsurers increase natural catastrophe exposure by 14%
In 2023, global insured losses from natural catastrophes reached $108b.
Toa Re’s improved underwriting to boost financials overtime
Its FY 2023 net profit saw $110m.
Reinsurers see 6% growth in premiums
Reinsurers faced changes driven primarily by the implementation of IFRS 17.
IFRS shifts AM Best’s reinsurance list
Munich Re topped this year’s rankings with $32.9b in revenue.
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Humans need to be in insurance’s genAI loop
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Insurance
Employees still need to interpret AI-generated data and make decisions to minimise risks.
Employees still need to interpret AI-generated data and make decisions to minimise risks.
