Monte Carlo

Some insurers will struggle to obtain the reinsurance protection they need, according to Marcus Winter, President and CEO of Munich Re US.

"Inflation is the primary question for our clients in conversation," says Nudo. "What we really want to do is understand how they’re accounting for it in their portfolios."

"The exposure landscape has changed and continues to change and evolve" says Jabsheh. "There is no business if we can’t generate returns."

Reinsurers are being really clear on what they want," says Wakefield. "We are spending huge amounts of our time with clients making sure they're coming to market with a clear view on risk."

"There's never been a line of commercial insurance that has more data at its fingertips than cyber insurers do today," says Methven. "But it's how they find that needle in the haystack."

"We are merging with the Howden group, and we're really excited about it: two culturally complementary organisations, and we looked very hard for that," explains Fox. "We're excited."

"We can't forget, now that we're 30 years on from Huricane Andrew, that it only takes one storm to make a huge difference in a season," says Churney.

“It’s very important to think about the different scenarios that you’re going to plan for and be realistic about that,” says Brookes about setting climate change targets, “but also to set up a framework and approach that can be flexible as you do that.”

Reinsurance leaders attending the Rendez-Vous de Septembre conference in Monte Carlo this year shared different views on what is the industry’s biggest challenge today.

"We are being very careful about how we allocate our natural catastrophe capacity," says Dunleavy.

“The demand for reinsurance has never been stronger,” says Massimo Reina of Guy Carpenter

“The demand for reinsurance has never been stronger,” says Massimo Reina of Guy Carpenter

For Tim Rayner, CEO of Verisk Specialty Business Solutions, a digital-first ethos is vital for the industry’s success

The industry’s leading firms are making inroads into the thriving MGA sector

ne of the biggest challenges when reviewing the MGA market is pinning it down

Meg Green sits down with Guidewire's chief evangelist, Laura Drabik, to talk ecosystems.

Not if you unify systems to stop problems from snowballing, says RMS product expert Cihan Biyikoglu

The industry’s innovators are making an increasing impact

Insider Engage sat down with Cory Schilling to discuss the migration of talent to the MGA sector, how it’s responding in the face of economic challenges, and the outlook for the market over the next five years.

Policyholder needs are evolving fast – and so are the opportunities to leverage a continuous stream of game-changing innovations from insurtechs. But while some P&C insurers see this as merely a matter of forging more partnerships, others are discovering the greatest advantages come from building an insurtech ecosystem instead.

From investing to partnering with insurtechs, reinsurers are playing an important role in the startup ecosystem

"We will weather the storm together," says Beggs. "The purpose of reinsurance is to provide peace of mind, stability and protection."

Managing general agents are continuing to give the reinsurance market a much-welcome boost

“The demand for reinsurance has never been stronger,” says Massimo Reina of Guy Carpenter

Whether from primary or secondary perils, losses from natural disasters have now exceeded cat budgets for some years in a row. The frequency and severity of events have exceeded our expectations, usually based on internal and vendor cat models. Efforts have been made using multiple granular economic and risk data to better understand what and where the insured values are (including density, inflation and business interruption), but we are forced to recognize the changing nature of events we face.

The continued growth of the cyber insurance market, increasing premiums and the potential for risk diversification is causing fund managers to consider the prospect of cyber risk as an asset class.

As the world faces an onslaught of perils – from potential food and energy crises to inflation and political instability – much of the blame is being traced back to Ukraine.

Perhaps one of the androids on HBO's sci-fi series Westworld said it best when reflecting on the AI technologies that control her fate and freedom: "It's not about who you are. It's about who they'll let you become."

How insurers can prepare for unexpected, unmodelled shock losses