April 16, 2019 11:30
Photo : Freepik
In spite of the losses of 240 billion u.s. dollars (US$ billion) related to disasters that occurred in 2017 and 2018, the share capital of reinsurers takes the shot, says Aon in its analysis of the market. It was established at 585 G US$ December 31, 2018, a decline of 3 % compared to 2017.
“Reinsurers continue to offer coverage and conditions for insurers, which demonstrates that the reinsurance capital is resilient in the face of the catastrophic events of previous years “, underlines Aon.
The disasters have not affected the capital
Aon says that the capital of reinsurers was found little affected by the losses related to disasters since the events were of a smaller scale. “A large proportion of the losses was borne by the insurers in the form of retention and because of the disasters less important,” write the authors of the report.
The firm reports that the losses related to disasters since the beginning of 2019 are 47 % lower than the average of the last 15 years, and 26 % under the median. “In addition, it is the beginning of the year the slowest in terms of the losses that the industry has known since 2013. “
The offer covers the demand
The round to renewal April 1, which was for the most part in Japan, was witness to ” the attachment of the reinsurers in the face of this region, despite the losses of business disposed of in 2018. The supply continued to meet demand and the conditions remained balanced for buyers in the context of continuity desired with long-term relationships “.
In anticipation of rounds of renewal of June and July, mostly concentrated in Florida and in Australia, Aon expects that the industry continues to find an offer to his request.