Reinsurers remain optimistic in a challenging market
Wednesday, 11 30 2016, Category: Insurance and Reinsurance, Country: World
Despite the ongoing softening reinsurance market cycle that’s testing the resolve of many companies, a recent slowdown in rate declines, rational behaviour and continued innovation has left some industry leaders with a sense of optimism about the space.
Discussing the reinsurance marketplace at the annual PwC – S&P Global Bermuda Reinsurance conference in November, market experts and leaders emphasised the solid performance of the reinsurance market at a time when profitability is diminishing, and efficiency and discipline are a must.
Conference attendees heard that a recent slowdown in rate declines across the global reinsurance sector, a trend that has been helped by a reduction in the entry of third-party capital and increased underwriting discipline, and companies’ focus on growth opportunities has given reason to feel more upbeat about the space.