Reinsurance

The CEO of Lockton Re Bermuda sees a healthy market leading in to 2023 created through clear communication channels, disciplined underwriting, well prepared clients, enhanced broker options and a consistent step change to the rating environment across the primary and retro markets.

As the dust settles on a hectic 1/1 renewal season, the Bermuda market is catching its breath and looking forward to 2023. On a trip to Bermuda earlier this month, a number of senior leaders told Insider Engage that the renewals were chaotic and underwriters were very busy the week between Christmas and New Year’s, as rates, terms and conditions hardened dramatically.

Insider Publishing Group, in partnership with Nuveen, kicked off 2023 with a visit to Bermuda, where Meg Green, editor of Insider Engage, Insurance Insider's sister publication, hosted a fireside chat with Mosaic Insurance co-founders Mitch Blaser and Mark Wheeler to give a Class of ’21 perspective on what the future holds for the market.

Is 2023 set to be the most testing year for the industry in living memory?

“The biggest opportunity though this renewal season is going to be for the reinsurance industry to fix the structures – prices, terms and conditions, ceding commissions,” said Jason Busti, president of North America, AXIS Re.

Meg Green talks to Neil Eckert, live at the London Market Conference 2022, about the multiple roles insurers are playing in the ESG transition

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

Managing wildfire risk is an increasing concern for reinsurers.

Meg Green sits down with Urs Baertschi, CEO of Reinsurance EMEA at Swiss Re, to discuss the January 1 renewals season, in the context of increased losses, volatility and uncertainty.

As we see a surge in inflation globally, it is now critical that everyone is aware of the implications this will have along every step of the insurance and reinsurance value chain.

Harnessing data and analytics will help close the yawning protection gap for intangible assets, and ensure insurers remain relevant, says Charles Clarke, group vice president, Guidewire Analytics.

Live from Target Markets in Scottsdale AZ, Meg Green talks to John Speckman about the opportunities for growth within reinsurance and the role of tech within that growth

At this year’s Insurtech Connect conference, Insider Engage spoke to Pranav Pasricha, Swiss Re's global head property and casualty solutions, Reinsurance, to discuss why the protection gap is the biggest challenge the reinsurance industry faces today and how Swiss Re is using technology to support clients to respond to new and emerging threats.

"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.

“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

The industry’s innovators are making an increasing impact

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

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

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

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

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

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.