As increasing climate-related losses and the role of secondary perils take centre-stage at Baden-Baden, the demands on cat modellers are changing. But it’s not just their role that’s evolving, says RMS’s Marescot.
New capital continues to be attracted to the reinsurance sector despite a streak of loss-making years. Peak Re’s Andy Souter thinks the dynamics are a sign of the market’s enduring appeal and robust structure.
Data should be vital to the insurance industry, but its potential has yet to be fully exploited, say software specialists at Morning Data.
Recent nat cat losses and COVID-19 have put pressure on the industry. As a result, a further hardening of the market can be expected, Klaus-Gregor Hahn of Deutsche Rück tells Intelligent Insurer.
Swiss Re estimates that major flooding in July in Germany and Belgium will cost the industry around $12 billion.
Its CEO continues to remain confident in the positive momentum despite SEC SPAC ruling.
The company says actual losses may differ materially from the current estimate.
Lloyd’s represents a major market place for P&C run-off transactions, says its CEO.
The executive was most recently CFO of Third Point Re until its merger with Sirius Group.
The insurer has recruited two specialist energy underwriters from Aon and Oman Insurance Company.