Hopeful signs are emerging for the global reinsurance industry after years of a soft market, weak investment returns, lukewarm investor interest and sluggish consolidation activity. The bottom line has been squeezed, and capacity has been dampened. Favourable loss-reserve development that bolstered 2010 underwriting performance is unlikely to be duplicated in 2011. Catastrophe losses – estimated as high as USD 60 billion for the first half of 2011 – have diminished last January’s robust capital position. Companies are hoping for, but not betting on, a more dramatic improvement in property cat pricing at the January 2012 renewal. ICMIF Members can download the report here.

Date posted: September 6, 2011
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