Demand for P&C reinsurance remains strong
Wednesday, 10 25 2017, Category: Insurance and Reinsurance, Country: World
Despite headwinds facing property and casualty reinsurers, according to McKinsey’s recent report on the global reinsurance sector, the long-term market demand outlook remains strong.
Factors driving demand in P&C lines of business are the impact of changing climate patterns, coupled with the fast-growing concentration of population and assets in hazard-prone areas, the rise of the middle class in emerging economies, rapid urbanisation, technological disruption and the growth of primary insurance in emerging markets.
However, McKinsey believes the industry will continue to see persistent headwinds from the soft market in the absence of a series of above-average catastrophic losses.