Profits plunge at world's biggest reinsurers in 2016
Wednesday, 04 12 2017, Category: Insurance and Reinsurance, Country: World
Both profits and return on equity at the world’s biggest reinsurers slipped in 2016 as new cash continued to pour into the industry, Aon Benfield has revealed in its latest Aon Benfield Aggregate (ABA) report, which analyses the 23 major reinsurers domiciled in developed markets.
On a combined basis, these companies write approximately 50 percent of global P&C reinsurance premium.
The study found that return on equity for the ABA group declined to 8.4 percent in 2016, but remained in excess of the cost of capital. Net income fell by 13 percent to $17.5 billion.
Source: Intelligent Insurer