Reinsurance market report : results for half-year 2018

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      <subfield code="a">Shareholders' equity totalled USD 364.9B at HY 2018, a 1.6% decrease from USD 371.0B at year-end 2017 -- Aggregate net income increased to USD 14.5B (HY 2017: USD 8.3B), largely due to a reduction in Natural Catastrophe losses. This level of profitability also remained reliant on continued support from substantial prior year reserve releases and significant realised investment gains of USD 2.9B (HY 2017: USD 3.4B) -- Active capital management continued with USD 11.1B of capital returned through dividends and share buybacks (HY 2017: USD 10.8B) -- Shareholders¿ funds were also reduced by unrealised investment depreciation of USD 8.3B which was due in part to rising interest rates. This is in marked contrast to the unrealised investment appreciation of USD 8.3B at HY 2017 which was largely due to rising stock markets -- HY 2018 headline return on equity (RoE) of 7.7% for the INDEX, up from  4.6% at HY 2017 -- ¿The reported combined ratio for the INDEX at HY 2018 improved to 94.3% (HY 2017: 95.0%)</subfield>
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      <subfield code="a">Reaseguro</subfield>
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      <subfield code="a">Mercado de reaseguros</subfield>
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      <subfield code="a">Empresas de reaseguros</subfield>
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