Fitch Ratings has projected that global reinsurance net premiums will continue to grow, reaching USD 173.4 billion in 2024 and USD 183.8 billion in 2025, despite an anticipated increase in the impact of catastrophe losses. According to the agency, these losses are expected to account for 14.3% of net earned premiums in 2024, up from 11.1% in 2023, and could rise to 16.4% in 2025. Furthermore, Fitch expects a rise in the calendar-year combined ratio for reinsurance, likely increasing from 87.3% in 2023 to 88.2% in 2024, and ultimately to 90.2% in 2025. Shareholder equity and returns on equity are expected to remain healthy, albeit declining, with projections indicating a decrease from 21.8% in 2023 to around 18.9% by 2025.