Aon has estimated that global reinsurer capital has declined by 15%, or $100 billion, to $575 billion as at the end of December 2022, driven by substantial unrealised losses on investment portfolios.
According to Aon, most reinsurers reported significant premium growth in 2022 on the back of rate increases, robust demand and foreign exchange movements.
Underwriting performance was again impacted by above-average insured losses from natural catastrophes.
The dominant event was of course Hurricane Ian, which had an estimated cost of $52.5 billion as per Aon’s Impact Forecasting.
FULL ORIGINAL PUBLICATION HERE
