S&P Global Ratings has highlighted the significant risks associated with the US casualty sector during its recent briefing at the Rendez-Vous de Septembre in Monte Carlo. Senior Director Taoufik Gharib referred to US casualty as “the elephant in the room,” noting its impact on the overall stability and outlook for the global reinsurance market. He emphasized that while many positive factors are contributing to the sector’s stability, concerns regarding general liability, excess casualty, and other areas persist, reminiscent of past failures due to inadequate reserving. The topic is expected to dominate discussions among reinsurers as they approach the 2025 landscape.
