IGI’s Dubai hub prioritises facultative business, because treaty reinsurance competition is fierce in the Middle East and sees a construction boom in Saudi Arabia as its biggest pipeline for growth.
Improved underwriting results have driven strong earnings and improved resilience at the four biggest continental European reinsurers, according to rating agency Moody’s.
A record number of elections in 2024, amid escalating geopolitical risks, underscore the value of political violence and political risk insurance, Howden emphasised.
Swiss Re Institute said frequency of events is main driver of insured loss accumulation, with severe convective storms accounting for a record $64bn last year.