Reinsurers have largely maintained underwriting discipline, an agency said.
The insurance industry from 7 to 11 September saw regulatory scrutiny, and stable reinsurance outlooks.
The Australian Securities and Investments Commission (ASIC) has warned that home insurers may be leaving Australians exposed to higher repair costs by relying on cash settlements for a large share of claims.
The Australian Securities and Investments Commission (ASIC) found that full or partial cash settlements were used in at least 63% of the claims it reviewed.
AM Best has maintained a stable outlook on the global life reinsurance segment, citing solid underwriting, investment returns and strong capitalisation amongst major players.
In its Best’s Market Segment Report, “Market Segment Outlook—Global Life Reinsurance,” AM Best said the market remains concentrated, with a small number of global reinsurers holding most of the market share.
Similarly, the global non-life reinsurance market is expected to have a stable outlook, with reinsurers remaining financially strong despite the property reinsurance market moving past its peak pricing cycle.
In its Best’s Market Segment Report, “Market Segment Outlook—Global Non-Life Reinsurance”, AM Best said strong performance since 2023 has generated robust organic capital, giving reinsurers capacity to return capital to shareholders or deploy it into new business.
Whilst reinsurance pricing has eased from the peak of the prolonged hard property market, reinsurers have largely maintained underwriting discipline, including higher attachment points and tighter terms and conditions.