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 63 The broker of the future: Clyde Bernstein, Head of Broking, Willis Towers Watson GB
Ep 62 Fully capitalised, but rationally hard: the 2021 market with David Flandro of HX
Ep 61 A healing market: James Vickers, Chair Willis Re International
Ep 60 Fear breeds discipline, alignment and innovation: Talbir Bains CEO Volante Global
Ep 59 Jean-Jacques Henchoz CEO Hannover Re: Lean and keen
Ep 58 Talent and a willingness to take on risk: Julian James CEO International Insurance, Sompo International
Ep 57 Color outside the lines: Jim Stanard, Chairman Ariel Re
Ep 56 Like 2001, but completely different: Andrew Brooks CEO Ascot Group
Ep 55 Controlled aggression: Alex Maloney CEO of Lancashire Group
Ep 54 Taking a longer view: Eduardo Pérez de Lema CEO of Mapfre Re
Ep 53 No end game. The journey to Ithaka: David Howden CEO Howden Group Holdings
Ep 52 Vanessa Macdonald-Smith of Oneglobal broking: Putting people before numbers and enjoying the fun of the chase
Special Episode: Technical Debt and how to get out of it, with Bart Patrick of Duck Creek Technologies
Ep 51 David Walsh and Graeme Newman of CFC Underwriting: 20% organic growth forever
Ep 50 John Neal: Putting the Lloyd's halo back in place
Ep 49 Tim Turner: This is not a re-run of 85-86
Commonwealth Insurance Forum Special Episode 1: Insuring high-growth emerging markets with Inga Beale and Lesley Ndlovu
Ep 48 D&O: The hardest market of all time with David Ritchie of Gallagher UK
Ep 47 Pat Ryan: Build a business people are proud to work for
Ep 46 The Best Market for a Decade: David Croom-Johnson MD Aegis London
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