Markel Global Reinsurance has made two appointments in its retro property reinsurance unit and its agriculture and crop reinsurance business.
That is the view of Dr Arno Junke, CEO of Deutsche Rück, who said that the relative conservatism of the European market has saved it from what he described as “gambling in disguise”.
One consequence of overcapacity in the market is that capital will ultimately exit the industry.
he Monte Carlo Rendez-Vous is a perfect time to ask how brokers are faring in the London market. Three insiders gave Intelligent Insurer their views.
While many in the reinsurance industry are concerned about the potential implications of the influx of alternative capital, it also offers an opportunity to leverage increasingly diverse sources of retrocessional capacity.
The convergence between reinsurance and the alternative capital markets is creating a buyers’ market as innovation flourishes and prices continue to decline, believes David Croom-Johnson, active underwriter at Lloyd's syndicate AEGIS.
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.