The European Big Four are benefiting from the hard reinsurance market conditions evident during the 2023 renewals with improved pricing and terms and conditions across reinsurance lines of business and geographies, as per a recent AM Best report.
According to the rating agency, higher inflation expectations are reflected in pricing, attachment points and updated asset values.
“Munich Re, Swiss Re and Hannover Re are aiming for targeted growth in property catastrophe reinsurance business, supported by improved conditions, but continue to have limited appetite for frequency layers and aggregate covers,” AM Best explained.
