The Conning study, "Buyer Trends in Property-Casualty Reinsurance: A Look at U.S. Cedants and Their Reinsurers" reviews the changing buying patterns and use of reinsurance by cedants over the past decade. The analysis explores changes in concentration of reinsurer panels and collateral mix among top U.S. cedants along with changes in the proportion of ceded premium by major companies.
"Even though insurers are ceding a larger portion of their premium, traditional reinsurers lost 20 points of market share in the past ten years, much of it to new captives," said Steve Webersen, Head of Insurance Research at Conning. "Our analysis indicates 11 of the top 25 assuming entities were nontraditional reinsurers, either captives or government-sponsored entities, accounting for nearly 30 percent of the assumed premiums from that group. Within the traditional reinsurer group, stalwart leaders have defended their market positions, while others have not."
"Buyer Trends in Property-Casualty Reinsurance: A Look at U.S. Cedants and Their Reinsurers" is available for purchase from Conning by calling (888) 707-1177 or by visiting www.conningresearch.com.
Conning (www.conning.com) is a leading global investment management firm with almost $109 billion in global assets under management as of December 31, 2016.* With a long history of serving the insurance industry, Conning supports institutional investors, including pension plans, with investment solutions and asset management offerings, award-winning risk modeling software, and industry research. Founded in 1912, Conning has offices in Boston, Cologne, Hartford, Hong Kong, London, New York, and Tokyo.
*As of December 31, 2016, represents the combined global assets under management for the affiliated firms under Conning Holdings Limited, and Cathay Securities Investment Trust Co., Ltd. ("SITE"). SITE reports internally into Conning Asia Pacific Limited, but is a separate legal entity under Cathay Financial Holding Co., Ltd. which is the ultimate controlling parent of all Conning entities.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/conning--reinsurance-market-and-buying-trends-shifting-with-soft-market-conditions-300425846.html