Reinsurance capital hits decade high to $729bn; ‘exceptional’ profits in ’23

The global reinsurance industry capital surged by 12% year-on-year reaching $729 billion in 2023, marking the highest level recorded in the past decade. This growth was fuelled by “exceptional” profitability throughout the year, alongside a more favourable experience with natural catastrophes, a latest report from Gallagher Re has indicated.