Fitch Ratings published midyear underwriting results for 19 non-life reinsurers, finding that the group’s average first-half 2024 combined ratio was 84.2, and forecasting continued profits for the rest of 2024 and 2025 also.
But while reinsurers will continue to maintain underwriting discipline and achieve favorable returns in 2025, “margins will peak in 2024,” Fitch Ratings analysts stated in their midyear 2024 report.
“Fitch anticipates that market conditions will continue to support attractive returns for reinsurers into 2025, as rates are generally adequate with supply and demand having reached a balance,” says the report, in which Fitch analysts also estimate that non-life reinsurance net written premiums increased by 6 percent in first-half 2024 from first-half 2023.