Despite higher trending losses, reinsurers reported strong profitability for 2023
The January 2024 reinsurance renewals showcased a balance in supply and demand dynamics, leading to moderate price increases across most business lines and a smooth process for reinsurance buyers, according to insights from Moody’s Investors Service.
Despite global insured catastrophe losses in 2023 reaching around $108 billion, significantly higher than the long-term average of $64 billion from 1990-2023, reinsurers reported strong profitabili