The outlook for the non-life reinsurance sector is improving as prices are expected to rebound in 2019 following the sector’s second consecutive year of above-average losses.
Rates will harden in 2019—or at the very least remain stable. That is what our readers believe as they approach the January 1 renewals. But we are also mindful that the Christmas spirit may have made some a little too optimistic.
The disruptive impact of insurtech, consolidation and further severe cat losses dominate the worries of our readers as they reflect on 2018—but they also appear resigned to grappling with such difficulties as the market heads into 2019. Those were some of the findings of the Intelligent Insurer year-end online survey.
Investors demand everything from growth to investment in technology to diversity these days, and industry CEOs will have it tough in 2019. It is no wonder that the new year’s resolution of some execs is to retire.
The re/insurance industry holds high expectations for blockchain technology as an opportunity to increase efficiency of insurance processes, and the future is beginning to take shape with the launch of new platforms and products. Intelligent Insurer reports.
The risk transfer industry understands that more could be done to close the protection gap, and more risk pools linked to governments could help solve this problem, argues Laurent Montador of French reinsurer CCR, which is backed by the French government.
The warning signals from 2017 are clear: the future success of our industry will depend on the strength of our partnerships and our ability to combine the knowledge and assets of each in order to develop innovative solutions, says Moses Ojeisekhoba of Swiss Re.
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.
Spanish re/insurer Mapfre embarked on an overhaul of its Global Risks business in July, which includes integrating some of the business into Mapfre Re. Eduardo Perez de Lema Holweg, chief executive and chairman of the management committee of Mapfre Re, explains the logic for the restructuring and his perspective on the industry’s health.
Despite recent losses, buyers seem to retain the upper hand in negotiations as we move into the renewals. On this basis, some are taking the opportunity to fine-tune their reinsurance programmes; others are even seeking rate decreases—Intelligent Insurer spoke to four of them for their take on the state of negotiations.