Global reinsurers post record earnings in H1 2021 but face headwinds from catastrophe losses and coronavirus litigation

<?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.loc.gov/MARC21/slim http://www.loc.gov/standards/marcxml/schema/MARC21slim.xsd">
  <record>
    <leader>00000cam a22000004b 4500</leader>
    <controlfield tag="001">MAP20210028359</controlfield>
    <controlfield tag="003">MAP</controlfield>
    <controlfield tag="005">20211006124038.0</controlfield>
    <controlfield tag="008">210930e2021    esp||||       ||| ||spa d</controlfield>
    <datafield tag="040" ind1=" " ind2=" ">
      <subfield code="a">MAP</subfield>
      <subfield code="b">spa</subfield>
      <subfield code="d">MAP</subfield>
    </datafield>
    <datafield tag="084" ind1=" " ind2=" ">
      <subfield code="a">5</subfield>
    </datafield>
    <datafield tag="100" ind1="1" ind2=" ">
      <subfield code="0">MAPA20210032998</subfield>
      <subfield code="a">Adesanya, Victor</subfield>
    </datafield>
    <datafield tag="245" ind1="1" ind2="0">
      <subfield code="a">Global reinsurers post record earnings in H1 2021 but face headwinds from catastrophe losses and coronavirus litigation</subfield>
      <subfield code="c">Victor Adesanya</subfield>
    </datafield>
    <datafield tag="300" ind1=" " ind2=" ">
      <subfield code="a">5 p.</subfield>
    </datafield>
    <datafield tag="500" ind1=" " ind2=" ">
      <subfield code="a">In the first half of 2021, major property and casualty (P&C) reinsurance providers were on track for a record year based on the strength of their underwriting profitability and overall net earnings. However, with a couple more months to go before the end of the Atlantic hurricane season, insured natural catastrophe losses may still apply pressure on full-year results. Estimated global insured catastrophe losses stood at $42 billion for the first half of 20211 (compared with an estimated $31 billion for H1 20202), and the occurrence of multiple catastrophic events such as Hurricane Ida (estimated at $30 billion3) could pressure reinsurers' bottom lines during H2 2021. There are also numerous legal actions related to the Coronavirus Disease (COVID-19) pandemic that are ongoing and emerging in different jurisdictions, which could affect reinsurers' results if court decisions are unfavourable. Despite these challenges, a review of half-year results for a selection of large reinsurers (see Exhibit 1) shows that the companies performed significantly better compared with the same period in the prior year. Investment income was also strong, partly reflecting the recovery of global equity markets from losses caused by pandemic-related volatility in 2020.</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080545185</subfield>
      <subfield code="a">Ranking</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080552367</subfield>
      <subfield code="a">Reaseguro</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080605957</subfield>
      <subfield code="a">Empresas de reaseguros</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080602529</subfield>
      <subfield code="a">Mercado de reaseguros</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080591281</subfield>
      <subfield code="a">Grupos aseguradores</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080600204</subfield>
      <subfield code="a">Catástrofes naturales</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20200005391</subfield>
      <subfield code="a">Coronavirus</subfield>
    </datafield>
    <datafield tag="710" ind1="2" ind2=" ">
      <subfield code="0">MAPA20190004305</subfield>
      <subfield code="a">DBRS</subfield>
    </datafield>
  </record>
</collection>