Global (re)insurers' financial results for the first nine months of 2022 : despite increased loss activity in Q3, combined ratios remain strong at 9M, but investment markets weigh on ROE and...

<?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">MAP20220036054</controlfield>
    <controlfield tag="003">MAP</controlfield>
    <controlfield tag="005">20221212151338.0</controlfield>
    <controlfield tag="008">220505s2022    usa||||       ||| ||eng 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="245" ind1="1" ind2="0">
      <subfield code="a">Global (re)insurers' financial results for the first nine months of 2022</subfield>
      <subfield code="b">: despite increased loss activity in Q3, combined ratios remain strong at 9M, but investment markets weigh on ROE and shareholders' equity</subfield>
    </datafield>
    <datafield tag="260" ind1=" " ind2=" ">
      <subfield code="a">New York City</subfield>
      <subfield code="b">Gallagher Re</subfield>
      <subfield code="c">2022</subfield>
    </datafield>
    <datafield tag="300" ind1=" " ind2=" ">
      <subfield code="a">13 p.</subfield>
    </datafield>
    <datafield tag="520" ind1=" " ind2=" ">
      <subfield code="a">The (re)insurers which we track reported average year-on-year premium growth of 13% at 9M 2022, with the strongest increase coming from the Global Reinsurers (+18.2%). Premium increases by Hannover Re (28.9%), Munich Re (25.9%), and SCOR (19.9%) were supported by growth in traditional treaty and structured reinsurance business and benefitted from an FX tailwind due to the strong U.S. dollar (all three report in Euros). In addition to organic growth, Intact's 25.4% increase in premium at 9M 2022 was supported by its acquisition of RSA's Canadian and UK operations. 17 out of the 25 companies in our data set reported year-on-year double-digit premium growth at 9M 2022. Earnings call commentary on pricing was similar to the half-year position; commercial lines continue to benefit from rate increases, albeit at a slowing pace, and margin expansion is typically expected into 2023. Personal lines business is much more challenged with several management teams noting that higher rate increases are needed to outpace claims inflation</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">MAPA20080602529</subfield>
      <subfield code="a">Mercado de reaseguros</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080610777</subfield>
      <subfield code="a">Evolución del reaseguro</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080611880</subfield>
      <subfield code="a">Perspectivas del seguro</subfield>
    </datafield>
    <datafield tag="710" ind1="2" ind2=" ">
      <subfield code="0">MAPA20220004640</subfield>
      <subfield code="a">Gallagher Re</subfield>
    </datafield>
  </record>
</collection>