Rates

Profits are expected to widen thanks to improved rates and higher average attachment points.

Delegates at our annual London Market Conference (LMC) described the market as “transforming” and “exciting”.

The revision reflects Swiss Re's "strongly improved financial performance and better capitalisation and leverage”, the ratings agency said.

The ratings agency said the change reflected its expectation that the carrier would post improving underwriting results in the next two years.

The revised status follows the recent announcement that R&Q Insurance Holdings has agreed a sale of its Accredited program.

E+S Rück said that natural disasters and persistently high inflation have again "taken a toll" on the German insurance industry.

Loss severity and prior-year development in US casualty dominated discussion at The Broadmoor.

The Corporation used its latest market message to call out what it saw as an “underwhelming” approach from specialty insurers to changing conditions and “moronic” D&O underwriting.

The executive also recommitted Aon to its mission around creating net new markets – including growing IP – in the wake of the Vesttoo issues.

The ratings agency also affirmed Swiss Re’s ‘AA-’ rating, with the carrier expected to maintain an ‘AA-’ rating through 2024.

The broker said that rates were largely flat thanks to insurer appetite and competition.

Loss-free accounts were generally up 20%-50% at renewal, the reinsurance broker said.