As reinsurance industry leaders prepare to gather in Monte Carlo for the annual Rendez-Vous de Septembre, AM Best’s latest research on the global industry highlights the segment’s strong technical results and disciplined underwriting. However, whether this underwriting discipline reflects a structural shift or merely another phase of the traditional cycle as market conditions soften remains to be seen over the next 12 months.

Now available in one comprehensive volume, featuring exclusive extra content, AM Best’s in-depth analysis of key segments and regional markets spotlights a shift in the market as it finds itself at a critical inflection point, with the focus shifting to whether the industry can maintain discipline as capital continues to accumulate and competitive pressures increase. At the same time, the changeover to IFRS 17 for many reinsurers continues to impact AM Best’s listing of the largest reinsurers, depending on the reporting standard used.

The report explores factors affecting different reinsurance market participants. Specific regional observations include:

  • Reinsurers operating in the Middle East and Africa reported another year of solid underwriting results, with the MENA market remaining a desirable region for international reinsurers alongside high growth potential in the sub-Saharan Africa region. However, reinsurers’ underwriting appetite has become more selective in response to heightened geopolitical tensions amid the ongoing conflict in the Middle East.

  • With all eyes on the potential impacts of a “Super Niño,” Latin America’s primary insurance companies are taking advantage of the soft-market reinsurance conditions to strengthen their catastrophe protections.

  • Asia’s reinsurance market conditions have become more competitive, with some actively expanding to mature overseas markets to diversify.

  • The European ‘Big Four’ reinsurers have continued their strong performance in the first half of 2026, helped by a benign catastrophe experience, and are maintaining their ambitious profit targets.

  • AM Best’s composite of rated U.S. and Bermuda reinsurers generated a fifth-straight year of underwriting profitability, even as premium growth fell sharply.

  • The data and analysis behind AM Best’s latest list of the 50 largest reinsurance groups.

To access the full copy of this comprehensive Best’s Market Segment Report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=368235.

For global reinsurance reports ahead of Rendez-Vous de Septembre, as well as video coverage of the event, please visit AM Best’s Reinsurance Information center.

Lastly, AM Best will host its annual reinsurance market briefing at Rendez-Vous de Septembre on Sept. 6, 2026, at 10:15 a.m. (CEST) in Monte Carlo. For more information, please visit the event website.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2026 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

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