Close quarter
Concise and thought-provoking interviews with senior market experts, each articulating their thoughts on critical technical subjects within the industry
Watch our latest Close Quarter interview
CSU: (Re)insurers should brace for “above-normal” 2022 Atlantic hurricane season
In this video, Colorado State University (CSU) researcher Phil Klotzbach tells The Insurer TV the upcoming Atlantic hurricane season will be characterised by “above-normal” activity for the seventh consecutive year.
A selection of Close Quarter interviews and in‑depth coverage:
CSU: (Re)insurers should brace for “above-normal” 2022 Atlantic hurricane season
In this video, Colorado State University (CSU) researcher Phil Klotzbach tells The Insurer TV the upcoming Atlantic hurricane season will be characterised by “above-normal” activity for the seventh consecutive year.
Verisk Specialty Business Solutions CEO: Adoption is the “key” next step towards technology development
(Re)insurance software platform Verisk Specialty Business Solutions will look to connect businesses and get them to “talk to each other” in a push for technology adoption, its CEO Ian Summers has said, as clients demand better distribution, data security and data enhancement.
ABIR’s Huff: S&P’s new capital methodology proposal misuse of market power
As the consultation period for S&P Global Ratings’ new insurer risk-based capital adequacy model draws to a close, John Huff, president and CEO of the Association of Bermuda Insurers and Reinsurers (ABIR), has warned the proposals diverge from the requirements of different regulatory regimes.
Brooks: ESG-focused Sustain ILS supports evolution of maturing ILS market
Newly launched Sustain ILS is looking to foster further evolution within the ILS sector as the innovative ESG-focused platform seeks to carve out a niche in the maturing market, Paschal Brooks has told The Insurer TV.
KBW’s Shields: Investors to focus on rate deceleration during Q1 results season
KBW analyst Meyer Shields has predicted insurers will report only a marginal slowdown in rate increases during the first-quarter earnings season as the industry continues to take steps to address ongoing loss cost inflation.
Insurance Advisory Partners: Need for scale in insurtech space to drive M&A
Insurance Advisory Partners co-founders Tony Ursano and David Kimmel have told The Insurer TV that M&A activity should remain strong this year, with two drivers being the insurance services sector remaining “white hot” and insurtechs pondering their next stages of growth.
Sparro: Early client discussions key to managing inflationary impacts
The emergence of economic inflation is having a broad impact across underwriting portfolios, with early client discussions needed to understand the change in exposures and valuations, according to Sompo International’s Chris Sparro.
Fitch Ratings’ Mazzuoli doesn’t rule out Russia-Ukraine conflict as capital event
The deeper repercussions on financial markets and inflation from the Russia-Ukraine conflict could potentially shift the outcome from an earnings to a capital event, Fitch Ratings’ director of EMEA insurance Robert Mazzuoli has told The Insurer TV.
Gallagher Re’s Vickers: Inflation “a pressure point” in overall stable Japanese renewals
Low catastrophe activity in Japan in recent months stymied rate rises for reinsurers in the region at the 1 April renewals, Gallagher Re’s international chairman James Vickers told The Insurer TV, but the effects of inflation continue to impact dynamics.
Clement: Lloyd’s vows to help managing agents accelerate ESG strategies
Lloyd’s will increase pressure on managing agents to implement ESG strategies, while also ramping up efforts to attract the right talent to develop innovative products and services, the Corporation’s sustainability director Rebekah Clement has told The Insurer TV.
Lockton Re's Bisset: Rated carriers pick up retro slack as ILS contracts
An increased appetite among rated carriers for occurrence cover has helped offset a ~$2bn reduction in aggregate capacity in the retro market, Lockton Re’s Bob Bisset has revealed in an interview with The Insurer TV.
Russell Group’s Basi: Russia’s $13bn aircraft seizure will have aviation war impact “on a par with 9/11”
Russia’s move to seize an estimated $13bn of Boeing and Airbus aircraft will have a similar impact on the aviation war market to 9/11, Russell Group managing director Suki Basi has warned.
The Insurer TV: Markel’s Schauss on how pricing for small business is evolving
The future for small business insurance will be making the process more simple for buyers while allowing insurers to better price to the profile of the risk as the industry learns to better harness plentiful data, Mark Schauss, managing director – binding authority at Markel tells The Insurer TV.
Transverse CEO: Alignment with reinsurers not just about retention
Reinsurers are not only looking for fronting carriers to retain risk to demonstrate alignment of interest, with other factors such as “good behaviour” in the marketplace and execution of program management also key in developing relationships, according to Transverse Group CEO Erik Matson.
Corvus’s Tadikonda: Cyber market must conquer its fear or face irrelevance
Corvus Insurance president Madhu Tadikonda has suggested in an interview with The Insurer TV that the cyber market is at risk of irrelevance if it does not figure out how to price its products.
Markel’s Wilson: “Don’t dabble” attitude key to future growth plans
Markel International president Simon Wilson has learnt a number of lessons during his time with the firm, but sums these up in two words – “don’t dabble”.
Jefferies’ Kinar: Public insurtechs that cannot shift to unit economics will be challenged
The valuations of public insurtechs that cannot show a meaningful improvement in unit economics while not losing too much of their growth will remain challenged, Jefferies equity research analyst Yaron Kinar has told The Insurer TV.
Jefferies’ Kinar: Kin pulling SPAC merger part of a “wide phenomenon”
The scrapping of Kin’s planned combination with a special purpose acquisition company (SPAC) is part of a wider phenomenon as a number of insurtechs press pause on initiatives to go public, Jefferies equity research analyst Yaron Kinar has told The Insurer TV.
Close Quarter with eReinsure’s Les Blake
Welcome to the latest episode of Close Quarter, in which we are joined by Les Blake, director of product marketing at eReinsure.
Wuller: Growth in MGA/MGU sector is structural not cyclical
The growth in delegated authority premium from $17bn to $54bn over the last decade represents a structural shift driven by a need for specialisation and a corresponding maturation of the MGA, MGU and programs space, according to RSG Underwriting Managers president and CEO Miles Wuller.
EY’s Santenac: Crucial the sector strives for inclusion in ESG indices
The global (re)insurance industry must do more to bolster its climate credentials, with inclusion in accredited ESG indices and ratings seen as being increasingly important by both policyholders and investors, according to EY’s global insurance leader Isabelle Santenac.
BRP’s Baldwin sees “robust” M&A pipeline after adding over $200mn in acquired revenues in 2021
BRP Group sees a robust pipeline of acquisitions, the fast-growing broker’s CEO Trevor Baldwin has told The Insurer TV, with the executive suggesting that some buyers misprice deals by valuing pure earnings over other attributes such as organic growth and quality.
Crawford committed to organic growth and looks to narrow talent gap
Organic growth remains Crawford & Co’s primary focus despite its recent spate of acquisitions, while the company is also working hard to recruit and train staff to help narrow the claims management sector’s talent gap, the firm’s president Joseph Blanco has told The Insurer TV.
Bermuda eyes pivotal role as global climate finance hub
Bermuda has set out its goal of building on three decades as a global reinsurance hub to become a centre for global climate risk finance.
ICEYE sets it sights on closing protection gap
Intelligence delivered by a blend of geospatial data, other sources and expert analysis to better inform parametric solutions will provide a more sustainable insurance product to close the protection gap, which is growing due to the effects of climate change, according to Lisa Wardlaw, global head of insurance solutions at ...
IDF’s Ekhosuehi Iyahen’s call to action as plans begin for COP27
Insurance Development Forum (IDF) secretary general Ekhosuehi Iyahen has said the industry body will focus on implementing many of the initiatives unveiled during COP26 over the coming year.
Swiss Re’s Mueller: LatAm reinsurance pricing to tick up in 2022 as demand grows
Latin American reinsurance pricing will maintain its current trend and continue modestly ticking up heading into 2022, with the rate rises set against a backdrop where both corporates and primary insurers are looking to buy more protection, according to Swiss Re’s Kaspar Mueller.
Hudson’s Gallagher: “Underwriter’s market” driving focus on coverage and risk selection
While pricing remains buoyant in many lines of US insurance business with further increases afoot, Hudson Insurance Group CEO Chris Gallagher has warned it remains “an underwriter’s market” where a strong focus on the coverage being offered and cautious risk selection is needed to return a profit.
Markel’s Proferes: Professional Liability underwriting to change as ESG emphasis grows
New “threads” of underwriting and changes to processes will have to be implemented into professional liability coverages as ESG considerations become more established.
Close Quarter with Russell Group’s Suki Basi
Over the past 18 months, global trade has seen a wave of disruption as a result of the Covid-19 pandemic.
Conduit Re’s Eckert calls for universal approach to carbon scoring
Conduit Re executive chairman Neil Eckert has thrown his support behind the development of a universal approach to carbon scoring after acknowledging the challenges in assessing the carbon intensity of an underwriting portfolio.
Parhelion CEO says no to marine, aviation and fossil fuels business
The lack of sustainable activities and commitments from the marine, aviation and fossil fuels sectors means they will be excluded from sustainable insurer Parhelion’s portfolio, with co-CEO Julian Richardson asserting this stance will be a hard line for most of the (re)insurance industry to follow.
Freddie Mac: ACIS flows to dip in 2022 but “ample” reinsurance opportunities remain
Mortgage reinsurers can still expect to see “very substantial” flows and “ample opportunities” in 2022 even if the record Agency Credit Insurance Structure (ACIS) volumes issued by Freddie Mac this year fail to be repeated as the refinancing boom fades, Mike Reynolds has told The Insurer TV.
Aon: regulatory clarity required to drive ESG-compliant ILS growth
The Insurance-linked Securities (ILS) sector has “innovated faster” than the wider market but the proliferation of ESG metrics and lack of clarity over regulations is leading to confusion among ILS managers, investors and insurers, Aon’s Paul Schultz and Meredith Jones have warned in a special COP26 edition of Close Quarter.
LSM’s Delaney says industry must “retool” to reflect changed climate landscape
Liberty Specialty Markets’ (LSM) newly hired head of responsible business Denise Delaney believes the insurance industry must “retool” so models accurately reflect the climate change-impacted risk landscape, while also reducing its own emissions and updating the emissions measurement and disclosure frameworks within its insurance and investment portfolios.
Scaling Up: COP26 presents opportunity to highlight risk-pooling structures
Existing risk pooling structures can help highlight to policymakers the value of insurance-based mechanisms as a disaster risk reduction tool, according to Bronwyn Claire, senior programme manager at ClimateWise.
Carnegie-Brown: Measurement frameworks necessary but “brave”
Ahead of Lloyd’s piloting a measurement framework to monitor syndicates’ carbon underwriting, Lloyd’s chairman Bruce Carnegie-Brown said it will be “the single most important and difficult thing to do” given the enormous complexity of the task that lies ahead.
Aon’s Bowen: 2021 weather events carry “hallmark” of climate change
It’s become evident the extreme weather events of 2021 have the “hallmark of climate change” as the industry grows its confidence on how climate change is influencing certain perils, warns Steve Bowen, head of catastrophe insight within Aon’s Impact Forecasting unit.
Aon: Pressure will build on industry to provide solutions to $5trn climate cost
P&C (re)insurers will face ever-growing pressures from governments, regulators and society to provide coverage solutions for the “extraordinary” $5trn estimated global economic losses caused by climate change since the turn of the century.
Guy Carp’s Trace: Cyber market expected to quadruple to $20bn in next 3-5 years
The cyber (re)insurance sector could balloon in size to north of $20bn in the next three to five years, with the class witnessing a “ton of rate coming into the market”, according to Guy Carpenter’s North America CEO John Trace.
Newline’s Overy bullish on casualty growth opportunity
Newline Group is targeting further growth across its core casualty insurance portfolio with group CEO Carl Overy offering bullish commentary on the prospect of continued rate increases in 2022.
GC’s Davis: Cyber rate just one lever to offset ransomware impact
Reinsurers are approaching cyber coverages with greater caution in response to the surge in ransomware attacks, with both carriers and cedants narrowing terms and tightening limits, Guy Carpenter’s global co-heads of cyber Erica Davis and Anthony Cordonnier have said on a special Baden-Baden edition of Close Quarter.
Swiss Re’s Lohbeck: Specialty classes must look to ESG and infrastructure opportunity
Government-sanctioned ESG and infrastructure projects in both Europe and the US offer specialty lines carriers a unique opportunity to grow their premium base while also demonstrating their value to policymakers, Swiss Re’s head of global specialty Anne Lohbeck has said.
Swiss Re’s Baertschi: Secondary perils to fuel insurance demand
The increasing frequency and severity of losses from secondary perils will lead to greater demand for insurance products, Urs Baertschi, CEO of Reinsurance EMEA at Swiss Re, has said.
Corvus’ Tadikonda: Cyber industry must respond quicker to threat actors
The dynamism of cyber threat actors has highlighted the increasing requirement for the insurance industry to respond quickly to new information coming in, Lori Bailey and Madhu Tadikonda of Corvus have said on the latest episode of Close Quarter.
Close Quarter with Swiss Re’s Nikhil da Victoria Lobo
Swiss Re recently released a report – Women as Insurance Decision Makers – which highlighted that women hold significant financial power as household breadwinners and business owners globally.
Swiss Re’s Gonzalez: More to come from insurtech despite “unprecedented” advances
The insurtech industry has made “unprecedented” advances in recent years as evidenced by the capital raised and the innovations launched but the sector still remains some way from fully realising its potential, Swiss Re Corporate Solutions’ Ivan Gonzalez has told The Insurer TV.
Kunreuther: Climate change “uninsurable” if left to the private sector alone
Catastrophic risks associated with climate change will remain largely uninsurable unless the private (re)insurance market forges long-term partnerships with the public sector, according to Wharton School professor Howard Kunreuther.
Close Quarter with Swiss Re’s Beat Kramer Mölbert
Welcome to a new edition of Close Quarter, in which we speak with Beat Kramer Mölbert, managing director – Property Treaty Underwriting EMEA at Swiss Re.
Close Quarter with eReinsure’s Igor Best-Devereux
Welcome to another edition of Close Quarter, in which we speak to Igor Best-Devereux, founder and CEO of eReinsure – the 20-year-old insurtech that supports engagement between carriers, brokers and reinsurers, and has completed almost one million transactions.
Close Quarter with Aon’s Adam Podlaha
Welcome to our latest edition of Close Quarter on The Insurer TV, in which we speak with Adam Podlaha, head of Impact Forecasting at Aon.
Close Quarter with Aon’s Graeme Rayner
In this episode we invite Graeme Rayner, CEO of Alternative Distribution at Aon, to talk about one of the fastest growing sectors in the industry – the MGA space.
Close Quarter with Swiss Re’s Paul Murray
Welcome to the latest episode of Close Quarter from The Insurer TV, in which we speak with Paul Murray, head of life & health (L&H) products at Swiss Re.
Close Quarter with Aon’s Catherine Mulligan and James Trainor
Welcome to our latest edition of Close Quarter with Catherine Mulligan, global head of cyber at Aon’s Reinsurance Solutions, and James Trainor, senior vice president within Aon’s Cyber Solutions.
Close Quarter with Swiss Re’s Tamara Soyka
Welcome to our latest edition of Close Quarter on The Insurer TV, in which we speak with Tamara Soyka, head of Cat Perils EMEA at Swiss Re.
ABIR’s Huff on G7 tax deal: Jurisdictions must be able to “chart their own path”
John Huff, president and CEO of the Association of Bermuda Insurers and Reinsurers (ABIR), has told The Insurer TV that the G7 tax agreement must respect the concept of sovereignty, with the executive also stressing the importance of maintaining the use of deferred tax accounting for the industry.
Close Quarter with ABIR’s John Huff
Welcome to our latest episode of Close Quarter with John Huff, president and chief executive officer of the Association of Bermuda Insurers and Reinsurers (ABIR), where he directs the worldwide public policy initiatives.
Close Quarter with Swiss Re's Frank Reichelt
Welcome to a new edition of Close Quarter with Frank Reichelt, head of Northern, Central and Eastern Europe at Swiss Re since 2018.
UK climate stress test a sign of increasing scrutiny of insurer climate risk
The Bank of England’s climate stress test is a sign that central banks and international regulators are looking to “ramp up” oversight of insurer climate risk, according to Guy Carpenter’s managing director of catastrophe advisory Jessica Turner.
Russell Group’s Basi: underwriters need to get a handle on port accumulations
With as much as 55 percent of global trade now transiting through just 50 ports each year, the (re)insurance industry needs to get a better handle on the exposures that are accumulating at these transportation hubs, Russell Group’s Suki Basi has urged.
Close Quarter with Russell Group’s Suki Basi
Welcome to the latest edition of Close Quarter with Suki Basi, founder and managing director at Russell Group.
More video interviews
BDA’s Weinstein: “Innovative solutions are being built in Bermuda”
In this short video, BDA’s CEO David Hart and BDA’s chair Stephen Weinstein reflect on the need for dialogue as the industry prepares for “one of the most challenging mid-year renewals in years”.
AIG Re’s Schaper: Bermuda has “enhanced proposition” as builds out beyond property
In this video, part of the Bermuda Risk Summit series, The Insurer TV’s Sophie Roberts and AIG Re’s CEO Chris Schaper talk about how the reinsurance industry in Bermuda has “enhanced its business proposition” in the past few years given the market’s expansion into new lines of business and how ...
Aon’s Andersen: Cat risk transfer must be a “fair trade” to prevent retrenchment
In this video, part of The Insurer TV’s Bermuda Risk series, Aon’s president Eric Andersen talks to content editor Sophie Roberts about how Bermuda is building out a “climate marketplace” which must be supported and the important role the industry will play in the transition to become net zero.
Ariel Re’s Mather: Berkshire Hathaway endorsement validates strategy strength
In this interview, Ariel Re’s CEO Ryan Mather speaks to The Insurer TV’s Sophie Roberts about how Ariel Re is preparing for the forthcoming renewal seasons and how recent cat events, inflation and climate change are shaping discussions.
Convex’s Catlin: It’s a “brave person” who says a pandemic won’t happen again
Watch Convex chairman and CEO Stephen Catlin share his thoughts on why “there is nowhere else quite like the Bermuda market”, the progress being made on the development of public-private partnership solutions for Covid-19 in the UK and bullish growth projections for Convex.
TigerRisk’s Ronda: Reinsurance market “most challenging we’ve seen in quite some time”
In this video, The Insurer TV’s Sophie Roberts speaks to TigerRisk’s president Tim Ronda about the volatility in the reinsurance market, the expectations ahead of the Florida renewals, and the opportunities in M&A and legacy transactions as part of the Bermuda Risk Summit series.
Envelop Risk’s Chatterjee: Russia cyber attacks have the “potential to become an extremely damaging incident”
In this 10-minute interview, The Insurer TV’s Sophie Roberts and Envelop Risk Analytics CUO Ari Chatterjee explore the challenges and opportunities in the cyber market, as well as the increasingly pivotal role Bermuda is playing when it comes to providing cyber capacity.
Horseshoe’s Faries: Loss fatigue to drive another robust year of cat bond issuance
In this exclusive interview at the Bermuda Risk Summit 2022, Horseshoe CEO Kathleen Faries and The Insurer TV’s Sophie Roberts discuss the trends and outlook for the ILS market.
Bermuda Brokers’ O’Donnell: MGA growth in Bermuda “has brought a new vibrancy to the marketplace”
Watch Bermuda Brokers CEO Hugh O’Donnell speak to The Insurer TV’s Sophie Roberts about the relevance of the Bermuda (re)insurance market, including the dynamics around the use of alternative capital and the role of MGAs in this market, as part of the Bermuda Risk Summit series.
Arch’s Grandisson: “This is Bermuda’s leadership moment”
In this 10-minute interview with The Insurer TV’s Sophie Roberts at the inaugural Bermuda Risk Summit, listen to what Marc Grandisson, CEO of Arch Capital Group, has to say.
Aspen’s Dunleavy: Russia-Ukraine conflict has thrown industry into “uncharted territory”
Watch an exclusive 12-minute interview with Aspen Group CUO Christian Dunleavy and The Insurer TV’s Sophie Roberts at the Bermuda Risk Summit 2022.
Climate change: the amplifier of all industry risks
The prevalence of emerging climate perils continues to put pressure on the (re)insurance industry to respond amid rising losses and growing uncertainty for the sector, in addition to a widening protection gap. Understanding the impacts of climate change has become a top priority, as no portfolio or line of business ...
Bermuda Risk Summit set to tackle industry’s top themes
The Insurer team will be out in force in Bermuda next week as the Bermuda Business Development Agency (BDA) hosts its inaugural “Bermuda Risk Summit”.
Bringing the industry’s voice to the table – Aon’s Emma Karhan reflects on COP26
As COP26 discussions came to a close last week in Glasgow, Aon’s Emma Karhan believes the event has helped highlight the important role the insurance industry has to play in helping mobilise capital to address challenges posed by climate change.
