Reinsurers in good shape after several difficult years

The Reinsurance sector was able to re-establish more favourable pricing and contractual conditions with their customers in 2023. The reinsurance sector is doing well. After several difficult years, reinsurers meeting in Monaco for their annual "September Rendezvous", had a favourable outlook. This trend looks set to continue in 2024. Reinsurers, such as Munich Re and Swiss Re, help cushion the risks borne by insurers. In return for a fee, they undertake to take over from their insurance clients by assuming part of the damage, should it occur. The players in this sector, a market valued in 2023 at 364 billion euros, are meeting from Saturday until Wednesday in Monaco - as they do every year - and will begin their annual negotiations with their insurance clients. Reinsurers have experienced volatile returns on equity, degraded between 2017 and 2022 by a series of natural catastrophes, where so-called secondary perils, i.e. of moderate intensity such as hail or forest fires, have been ...