H1 results strong for reinsurers: Morningstar - Business Insurance

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H1 results strong for reinsurers: Morningstar - Business Insurance Skip to content Register for free Search Search Log In Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers H1 results strong for reinsurers: Morningstar by Matthew Lerner Reinsurance Aug 13, 2026 Reinsurers posted strong first – half results on the back of underwriting profits and low catastrophe losses. The group of reinsurers monitored by Morningstar DBRS collectively earned a record aggregate net income of $14 billion, up 16.7% from $12 billion in first-half 2025, the ratings agency said in a report Thursday. Strong underwriting profitability due to benign large catastrophe activity, favorable reserve development, and strong investment income drove earnings for the group even as property catastrophe reinsurance pricing continued to moderate on abundant industry capital and increased competition, Morningstar DBRS said. The combined ratio for the group of eight reinsurers improved to 79.8% in the first half from 87.6% in the first half of 2025, report data showed. Despite competitive market conditions, reinsurers will “prioritize profitability over volume growth by reducing participation in business that does not meet return thresholds,” according to the report. Casualty reinsurance was profitable in the first half but less so than property as reinsurers pursued “selective growth.” Investment income was a “meaningful contributor” to earnings across the group amid what Morningstar DBRS called “favorable capital market conditions.” The longer investment periods for long-tail risks may benefit reinsurers with longer-tail liabilities in the current investment environment. Historically lower first-half catastrophe losses helped bolster results. First-half Insured losses were “relatively modest” at approximately $46 billion, well below the 10-year average of $64 billion, the report said. For the second half of the year, “The global property/casualty reinsurance industry remains in a strong financial position for the remainder of the year,” Morningstar DBRS said. Key to second-half success will be maintaining underwriting discipline as capital grows and competition increases. 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