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4 key takeaways from Willis Re's 1st View reinsurance report

As the risk for further extreme weather events remains imminent, the role of reinsurers will prove crucial.

By Denny Jacob | Updated on January 05, 2018

2017 was filled with extreme weather of historic proportions. Across the globe, hurricanes, earthquakes and wildfires, to name a few, swelled to catastrophic levels.

With the recent catastrophe loss estimates in the U.S. at $136 billion, 2017 is proving to be one of the worst loss years on record for the global reinsurance market. Fortunately, traditional reinsurers remain strongly regulated and capitalized while being supplemented by the continued growth in Insurance Linked Securities (ILS) capacity, according to the Willis Re 1st View report for January 2018. The report, provided three times a year, delivers the first view on current market conditions at the key reinsurance renewal seasons: January 1, April 1 and July 1.

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