Reinsurance News
Reinsurance interviews
A series of interviews with prominent reinsurance industry executives, discussing the state of the global reinsurance market, opportunities for growth in reinsurance, disruptive factors and the influence of technology on risk transfer and reinsurance.
Brokerage is not an expense, says Willis Re Deputy Chair Hvidsten
11th September 2019
Reinsurance brokerage costs and commissions are not an expense for reinsurers and Willis Re sees little demand for substantial change on broker remuneration, according to Deputy Chairman Mark Hvidsten. Speaking to Reinsurance News in an interview, Hvidsten laid out the value that he feels a reinsurance broker brings to its clients, ... Read the full article
Reinsurance is still as much art as science, says Allianz Re CEO, Amer Ahmed
10th September 2019
Despite the rise of technology and other market disruptions, relationships remain a key component of the reinsurance landscape and the business is still a combination of both art and science. This is according to Amer Ahmed, Chief Executive Officer (CEO) of global insurer Allianz’s reinsurance division, Allianz Re. Reinsurance News met ... Read the full article
Consistent underwriting & strong partnerships the focus for NewRe: CUO Klinger
10th September 2019
Over the next few years, NewRe, a wholly owned subsidiary of Munich Re, is committed to consistent underwriting and the establishment of strong partnerships across Europe. This is according to Artur Klinger, Chief Underwriting Officer (CUO) Property & Casualty at NewRe, who recently met with Reinsurance News to discuss the firm’s ... Read the full article
Technology won’t replace relationships in reinsurance: Hvidsten, Willis Re
10th September 2019
The important role technology plays in brokers’ service offering is set to increase and while it can and will help to improve efficiency, it’s unlikely to disrupt the reinsurance broking market, says Deputy Chairman of Willis Re, Mark Hvidsten. Technology continues to advance at a rapid pace and is increasingly influencing ... Read the full article
For protection gaps, the key issue remains demand: Vickers, Willis Re
10th September 2019
When it comes to closing much-discussed protection gaps the insurance and reinsurance industry cannot work alone and must partner with other organisations to help to increase demand for protection, according to James Vickers of Willis Re. The Willis Re International Chairman told us in an interview that “reinsurance alone cannot help ... Read the full article
Reinsurance pricing is still too low, says Swiss Re CEO Mumenthaler
10th September 2019
Christian Mumenthaler, Chief Executive Officer (CEO) at Swiss Re, believes pricing in the property and casualty (P&C) reinsurance sector is still at an unacceptable level despite improvements over the last two years. Mumenthaler told Reinsurance News in a recent interview that he was confident the market would continue to bring pricing ... Read the full article
PartnerRe CEO optimistic on market, sees private capital model as competitive advantage
9th September 2019
Emmanuel Clarke, the President and CEO of reinsurance firm PartnerRe, told us he is optimistic on market conditions, seeing the potential for rates to continue firming into 2020. Clarke also explained to us in a recent interview that he feels PartnerRe’s privately-owned capital model is a true competitive advantage, enabling the ... Read the full article
Improved reinsurance conditions to persist and on a wider scale: Althoff, Hannover Re
9th September 2019
More rational behaviour was evident across the reinsurance industry at the mid-year renewals and it’s expected that reinsurance prices and conditions will continue to improve through 2019 and into 2020, according to member of Hannover Re’s executive board, Sven Althoff. In an interview with Reinsurance News, Sven Althoff discussed the response ... Read the full article
Lloyd’s performance pressured, but corrective underwriting actions will help: Fitch
9th September 2019
The Lloyd’s of London insurance and reinsurance market remains under pressure as its underwriting performance has not lived up to expectations, but Fitch Ratings believes corrective actions taken will help. Speaking with Reinsurance News, Director of Insurance at Fitch Ratings Chris Grimes explained why the rating agency maintains a negative outlook ... Read the full article
Cyber unlikely to be a panacea for reinsurers: Vickers, Willis Re
9th September 2019
The still emerging cyber risk insurance and reinsurance market is not likely to prove the panacea that some hope it will, according to Willis Re International Chairman James Vickers. Vickers explained in a recent interview that while cyber risk is increasing rapidly around the globe, it is not yet clear where ... Read the full article
Reinsurance rate rises uneven & regional: Tony Melia, Willis Re
6th September 2019
Movements in reinsurance rates seen at mid-year 2019 renewals were not evenly distributed, with differentiation of cedants and regional price dynamics the order of the day. Willis Re International CEO Tony Melia explained to us in a recent interview that the reinsurance market has become increasingly nuanced, when it comes to ... Read the full article
Smaller reinsurers most vulnerable to takeover: Grimes, Fitch Ratings
6th September 2019
It is the smaller reinsurance firms that cannot take advantage of current market conditions and rate firming which are the most vulnerable to takeover right now, according to Chris Grimes of Fitch Ratings. Grimes, Director of Insurance at the rating agency, explained to us in an interview that despite the improved ... Read the full article
Opportunities ahead for expanding legacy market, but caution needed: IRLA
3rd September 2019
The legacy market continues to show an uptick in both deal size and volume, with many promising opportunities ahead, but re/insurers also need to exercise restraint to ensure they aren’t pushing for transactions at unrealistic levels. This is according to directors at the Insurance & Reinsurance Legacy Association (IRLA), who sat ... Read the full article
Bermuda to play key role in cyber coverage: Hannover Re’s Rentrup
16th August 2019
Cyber reinsurance is likely to become an increasingly critical area of growth for the Bermuda market, which will play a key role in the development of the coverage, according to Konrad Rentrup, President and Chief Executive Officer at Hannover Re Bermuda. “I can only stress how important this line is for ... Read the full article
NotPetya insured loss could creep 30%+ as tail develops: Johansmeyer, PCS
14th August 2019
The insurance and reinsurance industry loss from the NotPetya cyber-attack has the potential to increase by over 30% as the ongoing development of the event brings the tail into focus, according to Tom Johansmeyer, Co-Head of Property Claim Services (PCS). The NotPetya attack was the first designated cyber catastrophe event under ... Read the full article
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