Reinsurance

Whether considering market dynamics or organizational functions, transformation may be the most important word for insurers in 2014, according to a Deloitte analysis. See six transformational questions that could shape insurers fortunes in the New Year.

This year should see more negative rating actions than positive due in large part to the likelihood of insurers taking reserve charges, A.M. Best says.

Worldwide insured losses came to $31 billion, with the United States leading the pack even though U.S. losses were far below the 2000-to-2012 average of $29.4 billion.

Summer floods and hailstorms will cost the German insurance industry almost $9.7 billion for 2013, the biggest bill for damages the industry has faced in more than a decade, an industry report shows.

GC and Willis Re report falling property catastrophe reinsurance rates for 2014. The competitive pricing environment will push companies to innovate in 2014, say property and casualty insurance experts at the turn of the New Year.

German reinsurer Hannover Re is braced for falling premiums next year which could dampen business prospects.