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Third quarter underwriting results for the reinsurance industry exceeded expectations. Unusually low catastrophe losses -- for the quarter that dominates hurricane season -- were largely responsible for this result, according to a report by Aon (AON). Reserve releases from prior accident years helped quite a bit, as well. For the 23 reinsurers that Aon analyzed, net income reached $12.7 billion by the end of September, up almost 200% from $4.3 billion a year earlier.underwriters posts
FeedAon Sees Strong Reinsurance Profits on Low Catastrophe Losses
Third quarter underwriting results for the reinsurance industry exceeded expectations. Unusually low catastrophe losses -- for the quarter that dominates hurricane season -- were largely responsible for this result, according to a report by Aon (AON). Reserve releases from prior accident years helped quite a bit, as well. For the 23 reinsurers that Aon analyzed, net income reached $12.7 billion by the end of September, up almost 200% from $4.3 billion a year earlier.Continue reading Aon Sees Strong Reinsurance Profits on Low Catastrophe Losses
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