Strong performance of top European reinsurers at H1
Saturday, 08 25 2018, Category: Insurance and Reinsurance, Country: Europe
The top four European reinsurers all reported a solid underwriting performance over the first half of 2018, with limited large losses, moderate rate improvements, and strong premium growth, according to a recent report by Fitch Ratings.
Fitch largely attributed the strong underwriting performance of the group, which included Munich Re, Swiss Re, Hannover Re, and SCOR, to limited natural catastrophe losses over the period.
However, it noted that Munich Re’s underwriting performance was adversely affected by large man-made losses during the second quarter, and observed that the combined ratios of all four reinsurers remained close to, or above, 100% for 1H18 on a normalised basis.