TigerRisk Partners has developed innovative approaches to making casualty reinsurance more capital-efficient. Dan Miller reports.
Large multinational insurance companies with many lines of business operating over wide-ranging geographies are buying less and less reinsurance. While demand has held steady or risen on the property side, demand for casualty reinsurance is half of what it was at its peak. Why?
We had an idea, but we wanted to know. So we talked to 30 of the world’s largest insurers about what they were and were not buying, and why they had decided to reduce their casualty reinsurance spend.
As we suspected, the reasons were varied. In their view, the solutions available for managing volatility across multiple lines, particularly within the casualty space, have been imperfect. Coverage grants are ambiguous or overly restrictive and there has been a significant disconnect between how buyer and seller value what coverage is available. As a result, many of the large carriers have elected to manage these exposures internally.
Reinsurance, TigerRisk, Dan Miller, Rendez-Vous