Fitch says the sector's outlook for 2021 is worsening; credit exposure to remain a key risk.
The big four European reinsurers are cautiously optimistic for 2021 amid hardening market, says Fitch.
Strength of big reinsurers will drive a ‘flight to quality’, says Fitch EMEA head.
Fitch says UK motor and home insurers could have lower profits in late 2021 and into 2022.
While the judgment brings greater clarity, uncertainty remains around the volume and severity of valid claims.
An ‘exercise in discipline’ is needed against a backdrop of low investment returns.
Mounting COVID-19 losses, lower premium and interest rates will weigh on reinsurers performance, warns Fitch.
Reinsurers are refocusing on capital management to enhance their risk-adjusted capitalisation.
Pandemic-related losses at the four major reinsurers 'larger than originally anticipated', says Fitch
In spite of the considerable amount of claims ”the pandemic remains an earnings event”.
The risk of a major hurricane landfall in 2020 is a big concern for the re/insurance industry.