Dedicated reinsurance capital amounted to $ 658 billion globally at the end of 2020, an increase of 6.9% from 2019, according to a report Monday by Willis Re, the reinsurance business of Willis Towers Watson PLC.
The increase was due to capital raised from both existing reinsurance companies and new entrants, said Willis Re.
Alternative capital decreased to $ 90 billion from $ 91 billion compared to the previous year. environment. Willis data deteriorated "significantly" in 2020, from 100.6% to 104.1%, Willis data showed.
This was the second highest combined ratio since 2014, with only 2017 higher at 107.4%.
While alternative capital slipped slightly over the year to $ 90 billion from $ 91
Similarly, the total capital increase came after a decline in the first quarter . and turned out to be a surprise, said Willis Re.
"Such a solid finish by 2020 was hardly expected earlier in the year, as the COVID pandemic took off. On June 30, a sharp decline in the first quarter had already been reduced to a 3% reduction in global reinsurance capital. ”
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