Reinsurance sector net income jumps 75% in H1
Friday, 09 07 2018, Category: Insurance and Reinsurance, Country: World
Aggregate net income of the reinsurance sector increased nearly 75 percent year on year to $14.5 billion in the first half of 2018, according to Willis Towers Watson.
The profit boost was largely driven by a reduction in natural catastrophe losses during the period, the broker explained in its “Reinsurance Market Report September 2018: Results for Half-Year 2018”.
Profitability was also helped by continued support from substantial prior year reserve releases and significant realised investment gains of $2.9 billion in the first half, a reduction from the $3.4 billion in the same period a year ago.
Source: Intelligent Insurer