The International Association of Insurance Supervisors (IAIS) has released its “Global Insurance Market Report,” which addresses key developments in the global insurance market, fundamental risks in the current macroeconomic environment, climate-related risks in the insurance sector, and trends in the global reinsurance market.
Notable highlights from the report include:
– Total assets held by insurers have increased by 2.7% to reach $40 trillion, driven by favorable financial market conditions.
– The global reinsurance market is expanding, with gross reinsurance premiums expected to reach $900 billion by the end of 2023.
– Life insurers are increasingly investing in alternative assets that offer diversification and greater return potential.
This report underscores the evolving landscape of the insurance industry amid current economic challenges and opportunities.
