Consolidation trend in the world of reinsurance

Reinsurance has been experiencing a significant consolidation process since the beginning of the year. This trend is accounted for by the fall in tariffs noted for two years, the decline in demand, and the increasing use of alternative reinsurance.

Reinsurers must therefore achieve economies of scale, especially now that they are facing an increase in fixed costs induced by changes in regulations and technology.

As of January 2015, a series of medium-size players, mainly Bermudan ones, have been interested by acquisitions. The Irish group XL was the first to announce a takeover plan with Catlin.
The main operation is the one regarding the possible merger of Axis Capital and Partner Re.

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