As the coronavirus pandemic continues to drive uncertainty throughout the global re/insurance industry and beyond, Reinsurance News has decided to collaborate with its ILS-focused sister-site Artemis on a survey designed to take the pulse of the market.
We’ve analysed the data from responses received so far and already there are useful conclusions emerging.
It appears as though the majority of respondents, 55% of which provide input into reinsurance buying decisions, rank investment declines and financial market health as the primary threats to the industry.
This statistic perhaps best illustrates the extent to which respondents consider the coronavirus pandemic an existential threat to the world’s economy, one they are closely tied to.
Business Interruption litigation and forcing of claims into property or other policies ranked second. These two issues are yet to be fully realised and appear to be creating an increasing sense of unease that the worst is yet to come.
Interestingly. the impact on forthcoming M&A deals was of the least concern to our survey’s respondents.
Previous analysis of our survey indicated an expectation that the impacts and effects of the coronavirus outbreak, be they direct losses or macro-economic, are likely to drive an increasing appetite for protection among reinsurance and retrocession buyers.