Global reinsurers had a strong start to 2024, with Gallagher Re reporting ongoing improvement in underwriting profitability and a continued building of capital in the first half of the year.
Dedicated capital for reinsurers totaled $766 billion (USD) at the half-year mark of 2024, which shows an increase of 5.4% from the restated full year 2023 base. Gallagher’s report attributes this growth to INDEX companies, which have seen an increase in non-life alternative capital. These INDEX companies, which contribute more than 80% of the global reinsurance industry’s capital, saw a capital increase of 5.6% to $627 billion.
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Brittney Meredith-Miller
Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].
