Informe de sostenibilidad Howden 2024

Accumulating and intersecting crises since the turn of the decade – a global pandemic, devastating (and escalating) wars, commodity shocks, significantly higher prices, financial market volatility, weakening global trade, high debt levels – have ushered in a new world (dis)order that carries far-reaching implications for security, commerce, investment, supply chains and political stability.

Add into the mix elevated losses from natural catastrophes (every year since 2020 has seen annual insured costs exceed US$100 billion), more episodes of civil unrest, adverse litigation trends, evolving cyber threats, fraying social cohesion (exacerbated by the spread of misinformation and disinformation), and businesses and (re)insurers are navigating a hostile operating environment.

Following a prolonged run of rate increases across the (re)insurance sector (exacerbated by accumulating and intersecting crises), the degree of deployable capacity now available in the marketplace marks an important break with the recent past and heralds a new phase in the cycle.

Reinsurance renewals at 1 January 2025 saw rate reductions overall, reflecting a desire for growth on the part of reinsurers. Client-level differentiation was again a key feature of renewals, underlining the need for data transparency and relationships.