16 April 2018News

Traditional reinsurance sector remained profitable in 2017

The traditional reinsurance sector as a whole continued to make money in 2017 with net income across a group of 21 major reinsurers at $4.0 billion, according to the most recent Aon Benfield Aggregate (ABA).

The net income contributed toward a 2.5 percent increase in total equity to $204 billion. The return on average equity stood at 2.0 percent.

Property and casualty (P&C) underwriting losses stood at $10.6 billion, on net premiums earned of $144 billion, representing a combined ratio of 107.4 percent.

Natural catastrophe losses of $23.6 billion were partly offset by favourable prior year reserve development of $5.9 billion. The figures should be viewed in the context of a total investment return of $29.5 billion, Aon Benfield noted.

Join us at Intelligent Automation in Insurance - April 26th 2018, London:  Book now.

More of today's news

Navigators CEO describes Lloyd’s issues as he targets business locally

Alternative capital set for further growth in 2018

Terrorism insurers under pressure from TRIPRA expiration

Liberty appoints France general manager from AIG

Markel restructures casualty reporting lines

Argo appoints new leader for Italian specialty unit

Don't miss our insurtech email newsletter - sign up today

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk

More on this story

Alternative Risk Transfer
25 April 2018   Alternative capital has reloaded after the major nat cat events in 2017 and is in good shape to compete for cedants with the traditional reinsurance players and cause further pressure on rates, as recent market reports by Aon Benfield and Fitch Ratings suggest.
3 April 2018   Reinsurers’ 2017 profitability declined to the lowest level since 2005, when the industry was affected by hurricanes Katrina, Rita and Wilma, Moody’s said in an April 2 report.