Reinsurers to record poor earnings this year too

According to Aon PLC’s Reinsurance Aggregate report, 2022 will be another poor year for reinsurers’ earnings, as capital market volatility, high inflation, economic turmoil due to the COVID-19 pandemic and Russia-Ukraine war, and Hurricane Ian damage continue to exert pressure on reinsurers, Asia Insurance Review reported. The poor full-year outlook comes despite a solid 22% growth in property and casualty underwriting profit enjoyed by worldwide reinsurers in the first half of the year.