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).
Earnings of global reinsurance companies should remain favourable in 2H24 and 2025, as pricing is generally adequate and underwriting discipline should be maintained, Fitch Ratings says in a new report.
Peak Re has appointed Mr Peter Hämmerli as head of business operations. In his new role, he will contribute to the ongoing development and enhancement of Peak Re's business operations team as it expands in the global reinsurance market.
A key ongoing shift in financial reporting to the International Financial Reporting Standards (IFRS) 17 is underway, representing a significant accounting change that has necessitated the segmentation of performance analysis in the reinsurance market, according to a new AM Best report.
Although higher interest rates and more favourable mortality trends have led to improved conditions for life/annuity (L/A) reinsurance companies, they have also created more competition, with some backed by alternative investment managers or large private equity firms, according to a new AM Best report.
Global reinsurer Swiss Re has reported a profit of $996m in the second quarter of 2024, resulting in a net income of $2.1bn and a return on equity (ROE) of 20.1% for the first half of the year.
Prudential has expanded its alliance with Google Cloud to develop artificial intelligence (AI)-powered products and solutions.
Hannover Re's supervisory board has appointed Ms Brona Magee as a member of the executive board, effective 1 January 2025. She succeeds Dr Klaus Miller. In her new role, she will assume responsibility for the life and health reinsurance business group with Mr Claude Chèvre.
Hannover Re, one of the world's biggest reinsurers, increased its Group net income by 21% to EUR1.2bn ($1.3bn) in the first half-year and confirmed its full-year guidance for 2024.