Blog article
Reinsurance Forum
In this session, Ben Diaz-Clegg, Associate Director – Analytics, AM Best, shared the key drivers of AM Best’s decision to revise their global reinsurance outlook from Positive to Stable.
Also outlined were the key headwinds and tailwinds shaping market performance, profitability and capital strength, and the expectations for the year ahead.
Key trends
Property reinsurance rates were reported to have declined by approximately 10–20% in aggregate, with rate adequacy now approaching levels last seen at the start of the 2023 hard market. This marked a clear shift in pricing momentum following a period of steep hardening.
Casualty reinsurance was highlighted as a continuing area of concern. Despite ongoing pricing discipline, AM Best expressed scepticism around reserve adequacy, citing persistent challenges such as social inflation, litigation financing and large jury verdicts, particularly in the United States.
While headline indicators suggest some weakening in market conditions, AM Best emphasised that…
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