This past year, global gross reinsurance premiums written increased 2.6%, according to AM Best, which reported the total reached $363.6 billion.
According to AM Best financial analyst Christopher Pennings, the premium growth was mostly driven by rate increases and not exposure growth.
"At the same time, global reinsurers have become somewhat concerned about exchange rate fluctuations, as foreign exchange losses have had a dampening effect on premium volume," Pennings said in a release.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
