As reinsurance industry leaders prepare to gather in Monte Carlo for the annual Rendez-Vous de Septembre, ICMIF Supporting Member AM Best publishes its latest research on the global industry highlighting the segment’s strong technical results and disciplined underwriting amid a market recalibration since the January 2023 renewal period.
Now available in one comprehensive volume, featuring exclusive extra content, AM Best says its in-depth analysis of key segments and regional markets spotlights a shift in how risk is being priced, shared and retained across the reinsurance industry, and how this has translated into a second-straight year of solid results in 2024. Additionally, the rating agency notes, reinsurers have maintained their strong performance through the first half of 2025, despite global weather-related insured losses that will likely top USD 100 billion. At the same time, IFRS 17, which became effective on 1 January 2023, has been adopted by many reinsurers, and this change continues to impact AM Best’s listing of the largest reinsurers, depending on the reporting standard used.
The report explores factors affecting different reinsurance market participants. Specific regional observations include:
- Despite solid growth in recent years, the capacity offered by Africa-domiciled reinsurers remains insufficient to meet market demand; local players often rely on support from global reinsurers.
- MENA reinsurers, which operate in difficult economic landscapes, continue to adapt pricing and modelling capabilities in response to elevated natural catastrophe losses in recent years.
- Global reinsurers have shown renewed interest in the Latin America region; in particular, Brazil’s primary insurers have increased their interest in importing reinsurance.
- Asia’s reinsurers are actively expanding to mature overseas markets as part of a move to diversify and to become more agile managing underwriting cycles.
- The healthy interest rate environment, along with increased demand for longevity and mortality risk protection, has boosted the results of Europe’s “Big Four” reinsurers.
- The data and analysis behind AM Best’s latest list of the 50 largest reinsurance groups.
To access the full copy of this comprehensive Best’s Market Segment Report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=357234.
For all global reinsurance reports ahead of Rendez-Vous de Septembre, please visit AM Best’s Reinsurance Information centre.
AM Best will host its annual reinsurance market briefing at Rendez-Vous de Septembre on 7 September 2025, at 10:15 a.m. (CEST) in Monte Carlo. For more information, please visit the event website. This briefing will provide a unique opportunity for reinsurance market insight and opinion ahead of busy bilateral meeting schedules.
Delegates of the Rendez-Vous can join AM Best at the Hotel Hermitage to meet with and hear from senior management and analytical personnel from across the rating agency’s global offices as they highlight AM Best’s ongoing monitoring and analytical perspective of the global reinsurance market.
Agenda topics include:
- AM Best’s trend analysis on the global reinsurance sector
- If pricing discipline will be maintained
- Global reinsurance outlook and the drivers of future rating movements
- Impact of alternative capital and ILS
- Key rating issues impacting all reinsurers
ICMIF members attending the Rendez-Vous are also welcome to attend our Monaco Mutuelle cocktail reception on Tuesday 9 September. The ICMIF Monaco Mutuelle has now become an established event and is a unique chance for executives from purpose-driven, mutual/cooperative and other member-owned insurers to meet and network with peers from our sector. Click here for more information and to register. This event is supported by AM Best and also another of our Supporting Members, QBE Re.
