Saudi Arabia: Majority of insurers posted lower profits in challenging 2024

Despite significant losses from the California wildfires in January 2025, S&P Global Ratings considers it an earnings event and expects it to mostly affect US renewals rather than global markets, according to Taoufik Gharib, Director & Lead Analyst, Reinsurance Ratings.Speaking during S&P’s Fourth Quarter U.S. Insurance Webinar, Gharib noted that the wildfire losses will influence pricing in the u