Life & Health reinsurance business emerged as an increasingly important earnings driver in the first half, as the group posted higher profits and appointed a new division chief.
The appointment adds a regional head to a practice the broker has been looking to expand since creating a global chief executive for the line 12 months ago.
Regional losses of US$8.7bn in H1 came in at about a quarter of the 10-year average, but the reinsurer says strengthening El Niño conditions leave Japan, Korea, Greater China and Australia exposed through...
Behind the softer pricing lies a market propped up by excess capacity, with the report warning that a retreat by just a handful of dominant reinsurers could trigger a rapid reversal.
