Reinsurer combined ratio improves: Fitch

Performance among the 17 non-life reinsurers monitored by Fitch Ratings Inc. improved during the first half of 2021 as the group’s combined ratio dropped to 94.5% from 105.9% during the first half of 2020 and net premiums written jumped 18.47% to $72.78 billion, Fitch said in a report Monday. 

Last year’s first-half combined ratio included $6.1 billion of  COVID-19 pandemic-related reinsurance losses, Fitch said, compared with only $500 million in non-life pandemic reinsurance losses in the first half. 

Only two of the companies, Markel Corp. and RenaissanceRe Holdings Ltd., reported a higher reinsurance combined ratio than in the prior year. 

Insured natural catastrophe losses were a “manageable” $40 billion in first-half 2021, more than both the $35 billion of insured catastrophe losses in first-half 2020 and the $33 billion 10-year average from 2011-2020 of first-half insured losses.  

Meanwhile, reinsurance premium rate increases continue, although “market pricing at the various 2021

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How To Create Effective Business Development Strategies

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international journal management studies

Starting a new business is far more than simply hanging a sign out and waiting for customers to pour through the door and I’m sure anyone willing to invest in a new venture is well aware of this fact. Equally important to the international manager are sociocultural elements. These include the attitudes, values, norms, beliefs, behaviors, and demographic trends of the host country. Learning these things frequently requires a good deal of self-awareness in order to recognize and control culturally specific behaviors in one’s self and in others. International managers must know how to relate to and motivate foreign workers, since motivational techniques differ among countries. They must also understand how work roles and attitudes differ. For instance, the boundaries … Read the rest