The January 2023 Aite-Novarica Group report on reinsurance outlines how reinsurers are reducing cyber and property catastrophe exposures while diversifying due to rising losses from secondary perils. Business intelligence and advanced modeling are becoming essential, with larger firms exploring AI and machine learning. Some reinsurers act as data aggregators for smaller insurers. Core system replacements are underway to centralize operations and meet audit and regulatory demands. Rate strategies depend on client relationships, geographies, business lines, and loss records, with many seeking increases and program restructures to improve returns above cost of capital.

Join for free to read