AI and geopolitics ‘reshaping’ insurance: Swiss Re

Despite softer pricing conditions and rising claims inflation, non-life insurers remain profitable, with a return on equity of 11.4% expected in 2026

NON-LIFE insurance is entering a softer phase of the underwriting cycle but in a different environment from previous ones, with rising claims inflation, geopolitical uncertainty and growing catastrophe exposures “likely to limit the depth of the downturn”, according to Swiss Re.