Reinsurance News
Monte Carlo Rendezvous news
The annual Monte Carlo Rendez-Vous de Septembre (RVS) is a key event in the reinsurance calendar with a more than 60 year history of reinsurers, brokers and their clients all meeting in the Principality of Monaco.
It signals the beginning of reinsurance industry meetings in the run-up to end of year reinsurance renewal negotiations and sees executive teams and underwriters, brokers, buyers, risk capital providers and industry service providers all meeting to set out their positioning for the important January renewal season.
Read all our news, interviews and coverage from the Monte Carlo reinsurance Rendez-vous below.
Gen AI an exciting opportunity for re/insurers, though introspection is needed: Xceedance’s Clausner
9th September 2024
According to Isabelle Clausner, VP, client executive – EMEA at Xceedance, opportunities for re/insurers to enhance operations with GenAI are many and varied, and although it will take a lot of work and introspection to achieve individual aims, the quickest wins will be in deploying technology to gain efficiency. Speaking in ... Read the full article
Cyber re/insurance market can only grow at the pace of capacity: SCOR’s CEO
8th September 2024
Despite noting the "almost limitless" potential of the cyber re/insurance market, SCOR's CEO, Thierry Léger, has observed that it can only grow at the pace of capacity, meaning it will chiefly be an opportunity for the next few decades, rather than the next few years. Discussing cyber risk at the 66th ... Read the full article
Global reinsurance market to grow by 2-3% over next three years: Munich Re
8th September 2024
The market environment for reinsurers remains both promising and challenging, and after impressive growth in recent years, the marketplace is poised to grow by 2-3% over the next three years, Munich Re said at the 66th Rendez-Vous de Septembre in Monte Carlo. Growth of 2-3% over the next three years, adjusted ... Read the full article
US casualty the elephant in the room: S&P
8th September 2024
Although S&P Global Ratings had many positive things to say about the reinsurance sector at its recent briefing in Monte Carlo, Senior Director Taoufik Gharib urged the market not to forget about the major risk posed by the US casualty space. "US casualty is the elephant in the room," Gharib said ... Read the full article
Global reinsurance premiums to continue to grow: Fitch
8th September 2024
Global rating agency Fitch forecasts global reinsurance net premiums written to continue to grow in 2024 and 2025, forecasting USD 173.4 billion and USD 183.8 billion, respectively, with the impact of catastrophe losses to worsen. “Premiums growth is likely going to continue, but at a reduced pace, as rate adequacy has ... Read the full article
Social inflation drives US liability claims to reach annual peak of 7% in 2023: Swiss Re
7th September 2024
Social inflation has become the main growth driver of US liability claims, with a rising number of large court verdicts pushing claims in the US to increase by 57% in the past decade, ultimately causing them to peak at 7% in 2023, the first time seen in two decades, according ... Read the full article
Reinsurance capacity crunch threatens growth in financial risks sector, says Howden Re
5th September 2024
James Loggie, Managing Director of Howden Re Financial Risks, emphasises a critical need for growth in the reinsurance market to match rising demand. Despite the stability and strong performance of the financial risks sector post-pandemic, the reinsurance market faces urgent pressure to expand. In a recent interview with Reinsurance News around ... Read the full article
Risk sharing between insurers and reinsurers has stabilised: Urs Baertschi, CEO P&C Reinsurance, Swiss Re
5th September 2024
After reinsurers tightened terms and conditions and raised attachment points to move away from rising so-called secondary peril losses, primary insurers have now caught up and understand what it means to have higher volatility in the frequency space, according to Urs Baertschi, CEO of P&C Reinsurance at Swiss Re. Read the full article
Reinsurance pricing to perpetually recalibrate, but program restructuring to endure: Guy Carpenter
4th September 2024
After 2023 saw substantial reinsurance market corrections, including the restructuring of programs and the reset of pricing, 2024 has focused on the details, but according to executives at Guy Carpenter, while pricing is expected to continuously recalibrate, program restructuring is likely to be sustained. During Guy Carpenter's recent pre-Monte Carlo media ... Read the full article
Reinsurance pricing to remain ‘upbeat’ for January renewals – Morgan Stanley
15th September 2022
Financial giant Morgan Stanley has reflected on the Monte Carlo Rendezvous, saying that participants had predicted pricing to ‘remain upbeat’. Morgan Stanley wrote in a new note: “The recent benign hurricane season and rising interest rates do not seem to be an area of concern for pricing momentum. As expected, the ... Read the full article
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