Casualty insurance has been a difficult line of business in many markets around the world for some time. The profit margins are generally quite thin, driven by long-tail challenges and inflated claims in areas like transportation, pharmaceutical product liability, and catastrophic property (to name just a few).
Despite this challenging backdrop, Swiss Re’s global head of casualty reinsurance, Jason Richards, remains optimistic. The global economy is growing and insurance premiums around the world are growing in tandem, he said. Swiss Re projects a 5% increase in insurance premiums over the next few years, which will stem from both property and casualty lines.
You've reached your limit - Register for free now for unlimited access
To read the full story, and get unlimited access to Insurance Business website content, just register for free now. GET STARTED HERE
Already a website member? Log in below.