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General insurers’ profitability to lag behind cost of capital in 2023 – Swiss Re

By 2023-09-11T08:00:00

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‘The elevated risk landscape calls for more frequent adjustments to underwriting practices,’ says chief underwriting officer

Global reinsurer Swiss Re has noted that, despite “adjusting rapidly” to higher interest rates, non-life insurers’ profitability is expected to lag behind the increased cost of capital in 2023.

In its latest Sigma report, published over the weekend (9 September 2023), the reinsurer said that this environment was likely to presage “further rate hardening and constraints on capacity” throughout 2024.

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