AM Best has maintained a positive outlook for the global reinsurance industry, attributing this to strong underwriting profit margins and stable property rates, despite facing some losses from hurricanes Helene and Milton. The agency noted that reinsurers have experienced significant rate improvements since a market upheaval in 2023 and expect profitable yearly results moving forward. Though concerns regarding casualty reinsurance persist, particularly with social inflation trends in the U.S., AM Best anticipates continued strong growth in life and health segments. Overall, the reinsurance sector is poised for a solid year in 2024, with robust demand and favorable market conditions supporting its recovery.
