M&A: Five reinsurers will be left, says Kessler
SCOR’s Kessler sees ILS reach 25% of reinsurance capacity
SCOR CEO Denis Kessler
Citing Charles Darwin, SCOR CEO Denis Kessler believes that only the companies most responsive to change will survive in an increasingly complex and dynamic operating environment for reinsurers.
Kessler, who described himself as an industry dinosaur who will also disappear eventually, was reflecting on how the industry has changed during the last 16 years since he joined SCOR as chairman and CEO at a Nov. 6 S&P Global Ratings conference in London.
The risk universe has expanded, and new risks have emerged, Kessler said. “They are much more complex, much more dynamic because of globalisation and interaction through networks of different types of technology,” he explained.
Risks are becoming increasingly complex to manage and to model, according to his presentation. Risks are, for example, less and less circumscribed in time and space.
SCOR, Denis Kessler, Insurance, Reinsurance, Technology, Catastrophe, Europe, Global