AM Best upgrades reinsurance market outlook

Posted 11/06/2024 – Quick takes

AM Best has upgraded its outlook on global reinsurance from ‘stable’ to ‘positive’. The rating agency highlighted that it expected robust profit margins from reinsurers following significant improvements in both rates and terms and conditions. The firm also predicts underwriting discipline to be maintained.

Alpha comment

This is a very encouraging revision from AM Best. We previously reported in April 2024, that AM Best had upgraded its view on the London insurance market from ‘stable’ to ‘positive’. This has now been expanded to the reinsurance market which forms a large part (circa 33%) of Lloyd’s premium income.

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