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.

AI adoption will help identify the winners in re/insurance: Xceedance CEO

4th August 2023

Artificial intelligence (AI) will disrupt how re/insurance organizations do business. The industry must embrace it as the technology will help deliver better, faster, more accurate, and cost-efficient outcomes, Xceedance CEO Arun Balakrishnan noted in a recent interview with Reinsurance News. “If people believe this is a choice, they are wrong because ... Read the full article

‘Bullseye effect’ amplifies storm impact in urban and suburban areas: Gallagher Re’s McConnell

18th July 2023

Increasing urban and suburban sprawl has resulted in a "bullseye effect," causing storms to impact a higher number of properties within a concentrated area, resulting in greater property damage and losses, Megan McConnell, Executive Vice President of Gallagher Re, told Reinsurance News in an interview. Reinsurance broker Gallagher Re points to ... Read the full article

Asia Pacific a region ripe for innovation, suggests Swiss Re CorSo’s Rake

6th July 2023

Jonathan Rake, CEO of APAC, Swiss Re Corporate Solutions, suggests that the region is wide open for innovation, as it is not bound by legacy challenges, with firms embracing the new digital age. Rake's comments stem from an interview with Reinsurance News, in which he noted that Swiss Re Corporate Solutions ... Read the full article

Significant flood protection gap needs “urgent attention”: FloodFlash’s Bartholomew

4th July 2023

With the world dealing with the ongoing effects of global warming and urbanization, this has led to natural catastrophes such as floods to become increasingly more common. However, despite this, studies suggest that only 20% of the world’s $70 billion annual flood losses are insured, which FloodFlash’s Chief Underwriting Officer ... Read the full article

Expectations “much better managed” at July renewals: Gallagher Re’s Vickers

3rd July 2023

Gallagher Re's James Vickers, Chairman International, has asserted that the July renewals were “much better managed” and “stable”, as the pricing and structural market dynamics that defined 1.1 continued, with mid-year placements catching up and aligning with prevailing market undercurrents. Speaking to Reinsurance News alongside the release of Gallagher Re’s ... Read the full article

A below average storm season to benefit re/insurers & underwriters: Amwins’ Purviance

27th June 2023

2023 is predicted to be a below average storm season in the US, which along with price increases achieved over the past several years, should benefit re/insurers and underwriters; this amid a “fatigued” market caused by a challenging last 5 years from a catastrophe loss perspective, Amwins CEO Scott Purviance ... Read the full article

Captives to remain a vehicle of choice: Sivanesan, Labuan IBFC

15th June 2023

Against a backdrop of market-hardening effects, Labuan International Business and Financial Centre (Labuan IBFC)’s captive sector continued to gain momentum with five new players and total gross premiums of USD 571 million in 2022. More than 62% of the premiums were generated from the international insurance business. “This underscores Labuan IBFC’s ... Read the full article

Parametric solutions can shrink flood insurance protection gap: Floodbase

8th June 2023

With floods on the rise due to climate change, re/insurance solutions covering this type of peril have become more important now than ever, Peter Lacovara, Head of Commercial at Floodbase, highlighted in a recent interview with Reinsurance News. With flood having one of the largest protection gaps compared to other perils, ... Read the full article

Important to acknowledge warmer than average SSTs this hurricane season: Waters, Moody’s RMS

7th June 2023

With warmer than average sea surface temperatures (SSTs) expected close to the coast, there’s a chance storms could develop and make landfall very quickly, warns Jeff Waters, a meteorologist at Moody’s RMS. Waters has been the Product Owner for the RMS North Atlantic Hurricane models since 2018, ... Read the full article

Evolution of technology is key towards a net zero economy: Chubb’s McMullin

5th June 2023

Earlier this year, global insurer Chubb launched its new global climate business unit to help combat the threat of climate change. The new unit is set to build out additional products, and offer additional services to help clients and the insurance industry. In an interview with Reinsurance News, Matt McMullin, ... Read the full article

Data key to effective captive insurer formation: David Gibbons, PwC Bermuda

31st May 2023

The most important thing about setting up new captive insurance structures is access to data, according to David Gibbons of PwC Bermuda. Gibbons is a Partner and the Captive Insurance Leader at PwC Bermuda, working with some of the largest captive accounts in the world and delivering captive ... Read the full article

Global minimum tax rules are topic number one: Scott Slater, PwC Bermuda

26th May 2023

The introduction of rules to enforce a global minimum tax rate for large enterprises, which will include many insurance and reinsurance firms, is the highest priority topic for most tax leaders, according to Scott Slater of PwC Bermuda. Scott Slater is a a Partner and the Tax Services ... Read the full article

Increase in nat cat driving the demand for parametric insurance: Swiss Re CorSo’s Cole Mayer

23rd May 2023

With the industry witnessing an increase in frequency and severity of nat cat events throughout the last several years, and some of them even going on to become some of the costliest events ever recorded, Swiss Re Corporate Solutions’ Senior Structurer North America, Cole Mayer, suggests that this is one ... Read the full article

Demand for parametric re/insurance is on the rise: Floodbase’s Lacovara

18th May 2023

Demand for parametric insurance is on the rise as more people have started to recognise that these solutions can provide protection for things and events that could not be covered by indemnity insurance, said Peter Lacovara, Head of Commercial at Floodbase, in a recent interview with Reinsurance News. In the last ... Read the full article

How new regulations affect the re/insurance market will be a big theme going forwards: Spring’s Thomas

4th May 2023

In the past few years, governments, and businesses all over the world have been preoccupied with the Covid-19 pandemic and its aftermath, which likely put a number of regulatory/legal changes on hold. As these new regulations now start to come into effect, the re/insurance industry will slowly start to see what ... Read the full article