The impact of the low interest rate environment has yet to test the robustness of both life and non-life re/insurers as the effect slowly trickles down on companies’ balance sheets, increasingly impacting results, according to Moody’s.
Rising populations and a more volatile climate mean flood risk is a growing problem globally. Paul Drury of Ambiental, a specialist in flood modelling, spoke to Intelligent Insurer about four advances that will help the re/insurance industry improve its response to flood risk.
The performance of the reinsurance sector shows a clear trend of deterioration as the soft market squeezes profitability. While traditional reinsurers return capital to shareholders due to a lack of profitable business opportunities, alternative capital remains keen for opportunities to invest – potentially making the situation worse, suggests James Vickers, chairman of Willis Re International.
Now that the market has a solution for ocean marine and offshore energy, the time could be right for these risks to flow into the ILS market, says Tom Johansmeyer of Verisk Insurance Solutions.
The insurance linked securities (ILS) market is already be facing a better first half of the year than it saw over the same period of 2016, according to Paul Schultz, CEO of Aon Securities.
Amid concerns that artificial intelligence could result in job losses across the industry, re/insurers speaking at an Intelligent Insurer roundtable in London aimed to suppress some of those fears by highlighting the value of AI with tried and tested examples.
With a market steering more towards commoditisation, the value of the traditional reinsurance business model is waning, particularly in North America, where reinsurers are more focused on brokers than in Europe, Christian Reber, partner and managing director at Boston Consulting Group, tells Intelligent Insurer.
Chemical, biological, radiological and nuclear (CBRN) attacks represent a huge threat to large populated cities and the material is readily available to terrorists, according to Pool Re. Speaking ahead of a joint conference in London, Pool Re and the Washington-based non-profit organisation Nuclear Threat Initiative (NTI) explain to Intelligent Insurer why they are now focusing on this particular risk.
Ireland is the most attractive location for insurers seeking to create a unit within the EU to retain access to the common market after the Brexit vote, according to a survey conducted by Intelligent Insurer.
An unspectacular increase in large claims led Lloyd’s of London to report underwriting losses in all classes in the accident year 2016, driving the management to take action to improve underwriting quality and expenses.