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Reinsurance underperformance is ready to be reversed

Berenberg analysts believed the declining efficiency trend among reinsurers grew into reversal following a successful run of contract renewals in January 2022, when rates had increased by more than 10% in many cases for natural disaster risks, according to Forinsurer.
Reinsurance underperformance is ready to be reversed

The global reinsurance sector performed poorly in 2021, mainly due to continued elevated catastrophe losses. The industry has had a particularly difficult start in 2021 with unusually high-than-average losses in the first quarter, mostly due to winter storm Uri, with industry losses estimated at around $15 billion.

Enduring uncertainty about COVID-19 losses, mainly in the life reinsurance area, along with a trend to favor banks over insurers and worries about the impact of inflation on the sector, led to the sub-sector inactivity over the past year.

Source: https://forinsurer.com/news/22/01/19/40795

Photos are from open sources.

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