Reinsurance is in a particularly interesting state at the moment.
Industry capital has recovered as capital markets have bounced back after decisive actions from central banks around the world and incumbents and a few start-ups have raised or plan to raise new capital.
But at the same time the industry has shown stronger underwriting discipline as it seeks to correct a poor run of results and tries to get ahead of likely unsatisfactory back year development in casualty classes.
Retro is expensive as the ILS market retrenches and traditional buyers are looking to alternative capital solutions.
Differentiation is everywhere as sellers identify their best clients for support and reduce involvement with lesser performers.
At the same time uncertainty is at an all-time high and this means demand for reinsurance from cedants is very healthy.
Throw Covid-19 into this and you have an outlook full of very big, very difficult to answer and highly correlated questions.
Here to answer them armed with Willis Re’s 1st View mid-year renewals report is James Vickers Chair of Willis Re International.
Links to Willis Re’s latest report and Covid-19 assessment are below – I heartily recommend that you read them.
LINKS
Willis Re's latest 1st View reinsurance market report:
https://www.willistowerswatson.com/en-GB/Insights/2020/07/prudence-during-unforeseen-times
Willis Re's latest view on Covid-19:
https://www.willistowerswatson.com/en-GB/Insights/2020/07/covid-19-and-re-insurers-financial-health
And our supporter Claims Direct Access (CDA)'s website:
https://www.claimsdirectaccess.com/
Ep 27 How captives insure the uninsurable, with Oliver Schofield of RISCS
Ep 26 Talent and the class of 2020/21 with Dennis Mahoney
Ep 25 Build me a reinsurance broker: Tim Gardner of Lockton Re
Ep 24 Running towards risk: Stephen Postlewhite of QBE Re
Ep 23 Julian Enoizi of Pool Re: Time to become peril-agnostic on non-damage BI?
Ep 22 Casualty, Capital and Covid with Jason Howard CEO of Beach
Ep 21 Covid-19's reinsurance impact with Andrew Newman and Printhan Sothinathan of Willis Re
Special Episode: Biba, the LMG and Liiba respond to Covid-19
Ep 19 Bermuda briefing with Chris Bonard and John Turner of Ed Broking
Special Episode: Covid-19 update with Brendan McManus, Peter Blanc and Warren Downey in association with Specialist Risk Group
Ep 17 P&I primer with Dorothea Ioannou of The American Club
Ep 16 Inside the first syndicate in a box with Stuart Newcombe, active underwriter
Ep 15, Solo 1: Unfair Punishment and Pandemic Re
Ep 14 Early coronavirus thoughts from David Flandro of Hyperion X
Ep 13 The secrets of Jonathan Parry of QBE Re’s success
Ep.12 Navigating the post Aon-Willis, MMC-JLT world with Toby Esser of AFL
Ep.11 How to fix the insurance culture problem, with Nicolas Aubert
Ep.10 Cyber masterclass with Dan Trueman of Axis
Ep.9 Insurtech: Everything you need to know. With Instech London
Ep.8 Japan, Florida and Casualty renewals preview - Steve Arora, Axis Re
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