![]() |
Fitch Ratings says reinsurers' solid underwriting gains in H113 were offset by increased unrealised investment losses, according to a newly-published report.
The global reinsurers that Fitch rates improved their underwriting combined ratio to 85.9% in H113, compared with 87.7% in H112, as catastrophe-related losses were manageable and loss reserve development remained favourable. The global reinsurance industry experienced below-average natural catastrophe losses of USD13bn in H113, below the 10-year average of USD22bn. The majority of losses were from flooding in Europe, Canada and Australia, and severe thunderstorms in the US. Solid underwriting profitability was offset by increased unrealised investment losses on fixed maturities, resulting in shareholders' equity growth of only 1.3% for non-life reinsurers during H113. Underwriting opportunities remained somewhat limited, resulting in only marginal growth in premiums written. Several individual reinsurance product lines continued to experience unfavourable reserve development during H113, primarily longer-tail casualty and liability lines. However, earnings continue to be supported by surpluses from prior-year reserves. Reserve releases were equivalent to 6.4% of earned premiums in H112, against 6.6% at end-2012. The report, entitled "Global Reinsurers' Mid-Year 2013 Financial Results" is available by clicking here. |
|
|
|
Calling all BPA analysts! | ||
North West / hybrid 50/50 - Negotiable |
Principal Actuary - Bermuda | ||
Bermuda - Negotiable |
Financial Planning & Analysis Actuary | ||
London/Hybrid - Negotiable |
Apply Your Doctorate to Technical Pri... | ||
Fully remote / nationwide / hybrid working options all available - Negotiable |
Senior Investment Manager | ||
London / hybrid - Negotiable |
P&C Consultant | ||
London / hybrid 3dpw office-based - Negotiable |
Senior Pricing Actuary | ||
London - £140,000 Per Annum |
Actuarial Pensions Manager | ||
Flex / hybrid 2-3 dpw office-based - Negotiable |
Financial Reporting in beautiful Bermuda | ||
Bermuda - Negotiable |
Principal Risk Analyst - island adven... | ||
Bermuda - Negotiable |
Make a difference within BPA Administ... | ||
North West / hybrid 50/50 - Negotiable |
GI Provisioning in the Public Sector | ||
London or Edinburgh / hybrid 3 dpw office-based - Negotiable |
Associate Actuary - Risk Transfer Con... | ||
Flex / hybrid 50/50 - Negotiable |
Assumptions Actuary | ||
London/Hybrid - Negotiable |
Senior Actuary | ||
London/Hybrid - Negotiable |
Senior Investment Trainee | ||
London or Edinburgh / hybrid 50/50 - Negotiable |
Pensions Manager | ||
Any UK office / hybrid 2 dpw office-based - Negotiable |
Actuarial Reserving Senior Manager | ||
London / hybrid - Negotiable |
Senior Actuarial Consultant – GMPe | ||
Any UK Office location / Hybrid working - Negotiable |
Senior Life Actuarial Consultant | ||
London / hybrid 3 dpw office-based - Negotiable |
Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.