Fitch: Global Reinsurance Profits to Decline on Soft Market Conditions
Friday, 05 06 2016, Category: Insurance and Reinsurance, Country: World
Global reinsurance sector profits will fall below 2015 levels in 2016 due to increasing pressure in underwriting and investment results and diminishing opportunities to deploy capital, according to a new report from Fitch Ratings. The reinsurance sector will remain profitable overall, albeit at lower levels.
Fitch forecasts that the underlying accident-year combined ratio excluding catastrophes will deteriorate in 2016 as underwriting margins weaken from premium rate pressures, although rate declines will continue to moderate.
Source: Business Wire