Renewals in 2024 have seen reinsurance pricing gradually decrease, partly due to an increase in alternative capital to $110bn, and with rate reductions granted by reinsurers for the best-performing risks, says Aon, a leading global professional services firm.
The insurance industry should be prepared to experience total annual insured losses, from natural catastrophes and crop, of well more than $151bn on average, says Verisk, a New Jersey-headquartered global data analytics and risk assessment company.
Howden Re, the reinsurance and risk advisory arm of Howden, the global insurance intermediary, yesterday released a report titled "Beyond the horizon: shaping the future of risk", which underscores the imperative for industry collaboration in developing innovative solutions in response to rapidly changing natural catastrophe, political violence and casualty (re)insurance landscapes.
Higher prices and tighter policy terms, supported by favourable risk/return dynamics and healthy investment income supports Moody's Ratings' positive outlook for the global reinsurance sector, says the credit rating agency.
MDRT has appointed Ms Carol Kheng as president of its executive committee. In her new role, she will ensure all members have the resources that best meet their needs, while expanding previously established initiatives. She will also focus on strengthening the global network of MDRT professionals and celebrating member accomplishments as they continue to reach new heights of personal and professional success.
BMS has appointed Ms Anna Painter as head of global healthcare technical operations. In this newly created role, she will oversee technical operations, supporting the division's broader aim of providing best-in-class levels of service and solutions for healthcare providers.
Allianz Partners has appointed Mr Eric Buros as the global head of finance, health and Ms Mariana Ishchuk as the global head of product management and innovation.
Reinsurers must maintain discipline to hold on to favourable fundamentals and keep ahead of plentiful risks, said S&P Global Ratings (S&P) credit analyst Taoufik Gharib.
The 12 months ended on 30 June 2024 was a year of record-breaking Insurance-Linked Securities (ILS) activity, including the issuance of $17.9bn of catastrophe bonds across 76 transactions, says Aon, a leading global professional services firm, in the 18th edition of its ILS Annual Report.
Global reinsurers will seize the opportunity to deploy more capital over the next two years, within strict limits, says S&P Global Ratings (S&P).