Finance, Investments, and Accounting
The value of insurers' hedge fund investments dropped 9.9 percent last year to $11.8 billion, reversing 2 years of growth in the investment class, according to a new report from A.M. Best. Property-casualty insurers saw a 10.7 percent decline in the aggregate book-adjusted/carrying value of their hedge fund investments in 2022.
Alton Cogert, president and chief executive officer of Strategic Asset Alliance, offers the four specific questions that will lead to a more meaningful and useful investment manager meeting.
Despite property and casualty (P&C) premium growth and resilient underwriting, a group of major global reinsurers saw net income and total capital fall in 2022, largely as a result of investment market downturns. In the "Aon’s Reinsurance Aggregate" report for 2022, Aon noted that the group's P&C premiums increased by 9 percent last year.
Total US surplus lines direct premiums written reached a record $82.6 billion in 2021, according to a new report from A.M. Best. The surplus lines industry’s momentum has continued thus far in 2022, the rating agency said. It was the US surplus lines market's largest year-over-year premium growth since 2003.
An annual study of the property-casualty insurance industry's loss reserves found little change in the industry's overall reserve position from 2020 to 2021. However, the study by Conning did find changes in reserve levels by lines of business.
North American property-casualty insurance companies are positioned for improved underwriting profits in 2022 due to continued commercial lines pricing trends favorable to insurers and likely stabilization of their personal auto business, according to Fitch Ratings.
Russia's invasion of Ukraine will likely have a substantial impact on the global insurance industry in the near to middle terms, particularly given the fallout in the capital markets and the potential for widespread cyber attacks, according to A.M. Best. The invasion has had an immediate negative impact on stock markets.