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Member, Beacon International Group, Ltd.
Moody's Investors Service Inc. has said that the effects of heightened competition and excess capacity would become evident in the 2016 results of reinsurers, reports Artemis.bm.
Reinsurers' profits for the last 24 months have been masked by growth in earned premiums, reserve releases and lack of catastrophes, as a result of which they reported robust underwriting margin figures, Moody's said. "The combination of stalled organic growth and a further potential 5%-10% decline in 2016 catastrophe rates will expose the real impact of cyclical and secular headwinds in next year's results," said Moody's.