Barbican is one of a group of re/insurers that are considering a consortium approach as it looks to develop its presence in the Asia-Pacific region.
Negotiations around the year-end renewals will be tough for reinsurers with downward pressure on rates driven partly by the influence of the recent influx of alternative capacity into the market.
Broker Lineslips, the practice whereby insurers or reinsurers delegate their underwriting authority to a broker on business that they had traditionally placed in the open market, can be disruptive to the market as a whole.
Xchanging, the business process, procurement and technology services provider, hosted and completed a ladies’ charity cycle ride on Saturday September 7 in advance of the Monte Carlo Rendez-Vous.
The new wave of so-called convergence capital that has entered in the industry in recent years will increasingly find ways to participate on risks in emerging markets and on non-peak perils driven by an improvement in the risk modelling capabilities available and a growing desire by governments to work with the private sector to offset risks.
The influx of alternative capital will encourage creativity and innovation, however, the industry must remain disciplined says Kathleen Faries from Tokio Solutions Management (TSM).
Gerry Tighe, head of treaty at broker Matrix, believes the recent deal that sees Guy Carpenter take a significant stake in the new venture called Carpenter Turner, which it will use develop business in Greece, Cyprus and adjacent countries, could become a template of things to come in the industry.
Perceptions that an improvement in interest rates will help lift reinsurers’ profitability are unlikely to become a reality, with rates expected to soften in response to an improved investment environment.
The continuing influx of new capital into the market has been the biggest issue in the sector this year and will continue to be a big talking point during conference season.
Property Claims Services (PCS), the catastrophe analytics provider, has made two strategic moves: it has made plans to move into the Korean market and will provide a listed cat index for the Cayman Stock Exchange, consolidating traded options for its members.