As alternative reinsurance capital, from catastrophe bonds and other non-life insurance-linked securities (ILS) structures, grew to a new high of US $114 billion by the end of 2024, Gallagher Re notes that it was the main source of capital inflow to the reinsurance market last year.
While traditional reinsurance capital also grew in 2024, to reach $629 billion, it was retained earnings that have been the main driver of that expansion.
This follows other recent years, when it has been retained earnings and investment asset value growth on the traditional side which has been expanding reinsurance.
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