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FOR IMMEDIATE RELEASE
OLDWICK - APRIL 03, 2020 01:54 PM (EDT)
AM Best is maintaining its market segment outlook for the global reinsurance industry at stable despite the volatility and uncertainty created by the COVID-19 virus outbreak.
Global reinsurers remain well-capitalized and the industry remains resilient, with a long history of innovative and prudent risk management. AM Best expects any covered losses to be manageable and that relevant policy exclusions will hold up. A new Best’s Market Segment Report, titled, “Market Segment Outlook: Global Reinsurance,” states that the stable outlook primarily reflects the pricing environment in the non-life segment, which has stabilized and for the moment is providing positive momentum across a broadening spectrum of business classes. A stable market environment in the global life reinsurance segment also is supporting the current outlook. Although the operating and competitive landscapes of the two major reinsurance business segments are distinct, the resulting diversification benefits the global reinsurance segment from an overall earnings perspective.
The report outlines other factors considered in the stable market segment outlook, including:
To access the full copy of the global reinsurance outlook market segment report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=295996 .
Separate market segment reports on the non-life and life reinsurance segments can be viewed at:
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.