The additional third party capital should be welcomed as it will help to reduce extreme market cycles. That is the view of Philippe Regazzoni, CEO of Amlin Re Europe.
PERILS AG, the independent Zurich- based company providing industry-wide catastrophe insurance data, has seen a huge growth in use of its data over the past five years.
Mark Watson, CEO of Argo, told Intelligent Insurer that as more capital pours into the market, the impact of medium and large scale catastrophic events will lose their punch and ability to move the market.
Catlin Group is to rebrand its reinsurance operations as Catlin Re. Matthew Paskin, executive director of group underwriting at Catlin, will become executive chairman of the newly formed unit.
As alternative capacity floods the market, reinsurers will continue to loosen terms and conditions in order to retain business. That is the view of Paul Horgan, global head of group reinsurance at Zurich Insurance.
The industry is likely to face increased scrutiny from the Financial Conduct Authority (FCA) as regulation tightens across the board, according to Phil Smart, head of UK insurance at KPMG.
According to Swiss Re’s Jonathan Isherwood, who is newly responsible for maintaining relationships between Swiss Re and its largest clientèle, size should not be an impediment to innovation.
XL’s executives are busy at Monte Carlo this year talking to clients and investors about its new joint venture with Stone Point Capital, a new Bermuda-based company revealed in July that will act as an investment manager in insurance-linked securities (ILS) and other reinsurance capital markets products.
Reinsurers are facing another year of softening rates and little in the way of good news, as a trend that started in the catastrophe space post-2007 and in the non-catastrophe space post-2004, persists.
As Hiscox moves its reinsurance operations under a single banner – Hiscox Re – the company continues to realise the value of both a Bermuda and Lloyd’s platform, its CEO says.