Underlying results of reinsurers bleaker than reported
Saturday, 04 22 2017, Category: Insurance and Reinsurance, Country: World
While the results as reported by reinsurers show a declining trend, the underlying results, taking into account average cat losses, show how tight profitability in the sector really is, according to the most recent Reinsurance Market Report by Willis Re.
The aggregate net income of reinsurers included in the Willis Reinsurance Index tracking major international reinsurers dropped to $26.6 billion in 2016 from $30.3 billion a year ago, the report shows.
The combined ratio for the Index based on company reports deteriorated to 94.4 percent compared to 91.4 percent over the period.
Source: Intelligent Insurer