All Video interview articles
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NewsWTW’s Dunlop calls for “common standards and approaches” to improve ESG collaboration
WTW’s managing director Nick Dunlop said the (re)insurance industry must develop some “common standards and approaches” in order to improve its response to climate and ESG risk so “we can make it easier for each other”.
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News
Sompo Intl’s James: Aggregation of systemic risks and inflation present ongoing challenges for industry
Understanding the interconnectivity and aggregation of systemic risk is a key priority for Sompo International’s Julian James as he considers today’s risk landscape ahead of this year’s Airmic conference which is currently underway in Liverpool, UK.
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Efficient and innovative MGA model drives strong growth in US program sector: Jameson
The efficiency of the MGA model, the product innovation it brings and the influx of new program carriers fuelled by reinsurer appetite are all factors in the strong rate of growth seen in the US programs sector, according to Michael Jameson, head of Guy Carpenter’s new GC Access unit.
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Cyber underwriters avoid Covid exclusions even as ransomware concerns soar
At this time we have seen no evidence that insurers or reinsurers have added Covid-19 exclusions to Cyber policies, although they are asking clients more questions about business resilience and continuity planning relating to the pandemic amid an “enormous” rise in ransomware attacks, Guy Carpenter’s Siobhan O’Brien has told The ...
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Swiss Re’s Lohbeck: Early renewal requests telling of state of the market
Large industry losses, Covid-19 exclusions, prior year deterioration and some capacity withdrawals are all contributing to rate strengthening across most specialty lines as request for renewals come in early, according to Anne Lohbeck, head global specialty, property specialty underwriting at Swiss Re.
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Swiss Re’s Baertschi: Secondary perils creeping up industry losses as climate change worsens
The industry should be wary of the increasing “frequency and severity” in secondary perils as the risks associated with climate change become more prevalent and cost (re)insurers more each year, warns Urs Baertschi, CEO of Reinsurance EMEA at Swiss Re.
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Casualty upheaval places profitability in the spotlight at renewal: Guy Carpenter’s Ross
Changing dynamics in the casualty markets are causing reinsurers to place more scrutiny on portfolio profitability, according to Guy Carpenter managing director Chris Ross.
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Ethnicity and mental health dominate D&I agenda
Ethnicity, family and care situations and mental health were the big themes at this year’s Dive In Festival and with over 21,000 people registering, it was a record-breaking year for the festival.
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Aspen Re’s Milner: Casualty business must be “viable”
With prior year deterioration coming through on casualty business, the pricing environment for the class is a major focus for Aspen Re’s Richard Milner during renewal season.
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Covid and social inflation “accelerating” need to tighten T&Cs
Covid-19 and social inflation concerns have “accelerated” the need for reinsurers to tighten terms and conditions in liability and casualty lines, according to Christopher Donelan, CEO, Global Reinsurance, Sompo International.
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Hard market drivers point to sustained reinsurance rate increases
The reinsurance market has “a long way to go” before it shifts from being in recovery to growth mode as carriers tackle increasing losses, worries over prior year reserves and the Covid-19 fallout, Axa XL’s reinsurance CEO Charles Cooper told The ReInsurer .
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Sector has “significant role” to play in sustainability transition: EY’s Santenac
The insurance industry has a “very significant” role to play in the transition to a more sustainable world, according to EY’s global insurance lead Isabelle Santenac.
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Covid-19 recession highlights need for economic resilience: Swiss Re’s Haegeli
P C (re)insurers’ premium growth will rebound at a quicker rate following the Covid-19-induced recession than after the global financial crisis, but economic reliance remains a key concern, according to Jérôme Haegeli, group chief economist, Swiss Re.
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Legacy activity up for “foreseeable future”: TigerRisk’s Gulbransen
The legacy sector will continue to see an increased amount of activity “for the foreseeable future”, according to TigerRisk’s Wade Gulbransen, as carriers look to free up capital to take advantage of the hardening market conditions.
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Axis Re’s Hottinger: Multi-year pricing correction required
The market cannot look at the current rate improvements as a temporary fix, the strategy must be much longer-term than that, according to Andy Hottinger, president EMEA and LatAm at AXIS Re.
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Argo reinsurance buying strategy shift “only natural” as company evolves
It is “only natural” that Argo’s reinsurance buying philosophy will change as the company refocuses its operations, according to the company’s group head of ceded reinsurance Katie Partington Howarth.
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Hurricane season could yet bring more costly storms, warns RMS’ Cosgrove
Sea surface temperatures across the Atlantic remain conducive to more storm formations during this year’s hurricane season, according to RMS’ James Cosgrove.
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Positive social inflation trends are only temporary: Swiss Re’s Parton
There is no indication the Covid-19 pandemic has led to any improvement in social inflation trends and only sustained rate increase will make up for years of underpricing the risk, says Nicola Parton, head of P C business management reinsurance, Swiss Re.
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Canadian carriers warrant “rational” reinsurance renewal: Beach’s Turner
Canadian insurers can expect to face a “rational” reinsurance renewal heading into 2021, with the market benefiting from plenty of capital and having avoided the soaring loss trends that have impacted carriers in the US, according to Beach’s Jeff Turner.
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Technology essential in cutting broker costs: Ed’s Wicks
The use of technology remains an essential tool to help (re)insurance intermediaries drive efficiencies amidst rising pressure from across the market to streamline costs, according to Ian Wicks, Ed Broking’s chairman of non-marine reinsurance.
