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According to Swiss Re Institute, traditional reinsurance capital declined 30% in the first nine months of the year, partly driven by “a broad-based drop in asset values” due to interest rate changes, Artemis reported. Supply of both traditional and alternative reinsurance capital remains constrained and is driving up reinsurance rates.
1. Turkish airlines cancel flights to Iran and Iraq amid war concerns
2. Zurich Insurance to stop underwriting new oil and gas projects
3. Bermudan, European reinsurers to suffer major hit from bridge collapse
4. Tycoon gets death sentence for multi-billion-dollar fraud
5. Inflation drives 10% increase in sum insured for windstorms
6. Apple loses bid to throw out $977M lawsuit over app store fees