Hard talk: European renewals push through price increases

21-01-2022

Hard talk: European renewals push through price increases

Dirk Spenner, Gallagher Re; Catherine Thomas, AM Best; Yörn Tatge, AIR Worldwide; Frederik Wulff, Markel

Plentiful capacity didn’t save cedants from rising rates, and reinsurers showed discipline at the 1/1 renewals. But cedants saw wildly different outcomes, an Intelligent Insurer panel heard.

Better late than never, as the saying goes. European 1/1 renewals went to the wire for many this year with “protracted and late negotiations”, as Gallagher Re put it in its summary.

Dirk Spenner, the broker’s regional leader for EMEA North/East noted: “It was an unusually challenging renewal.” To explore those challenges and what it meant for reinsurers and cedants, he joined Intelligent Insurer, along with others: Catherine Thomas, senior director for analytics at AM Best; Yörn Tatge, senior vice president and managing director at AIR Worldwide; and Frederik Wulff, chief executive officer of Markel Insurance.

“This time there was clear direction from the top: something needed to change.” Dirk Spenner, Gallagher Re


Gallagher Re, AM Best, AIR Worldwide, Markel, Renewals, Insurance, Reinsurance, Dirk Spenner, Catherine Thomas, Yörn Tatge, Frederik Wulff, Europe

Intelligent Insurer