Think beyond the renewal pack; reinsurance starts with transparency

In a market that constantly demands agility and adaptation, the reinsurer-client relationship is being tested like never before. Climate change is raising the stakes, not just through major catastrophes, but increasingly through high-cost “secondary perils”. At the same time, underwriting cycles are shortening, and clients want more than capacity; they want perspective, alignment and partners who stick around when conditions change.

Key points:
Reinsurer-client relationship is being tested
Transparency is VIG’s key differentiator
Consistency drives trust – and capacity

That’s where transparency proves its worth – and it’s time we treated it not as a soft skill, but a real differentiator.

At VIG Re, we’re heading into our eighth renewal season with a local office in Paris. While our footprint in France might seem relatively young, our book has already weathered a full reinsurance cycle. Throughout that time, we’ve kept a clear and consistent strategy: long-term, broad-based support across P&C lines, guided by a deep understanding of our clients’ ambitions and pressures.

“We want to be close to our clients and fully understand the dynamics of their markets.”

Sounds simple. But it requires more than just good intentions.

For us, proximity and meaningful underwriting dialogue are foundational to sustainable business partnerships. We want to be close to our clients and fully understand the dynamics of their portfolios  That means more than annual check-ins – it means listening, testing assumptions and investing time to understand how each client sees their market. It’s what’s helped us not only maintain, but expand, our footprint over time, even through tougher conditions.

After the hardening market of 2023, transparency became even more essential. It forced everyone to re-evaluate their view of risk, especially on non-modelled perils. In our case, having a close understanding of clients’ strategic direction allowed us to pressure-test our own perspective, constructively question our convictions and reach decisions we could stand behind.

Exposure and historical data are one way to look at transparency, but underwriting is not limited to information of the “renewal pack”. It also includes a diligent statement of accounts, timely claims notice or full disclosure around the contractual terms and magnitude of a reinsurance placement. All these dimensions shape trust, and trust gives us the confidence to increase capacity where it’s needed most.

Looking ahead, we see the upcoming renewals as a litmus test of relationship strength. We’re committed to growing in the region and doing so sustainably with a focus on balanced and mutually successful outcomes. That’s why, over the past 15 months, we’ve doubled the size of our underwriting team at VIG Re in France and also strengthened the local actuarial presence. It’s not just a signal of commitment to our markets, it’s about making sure we’re resourced to be a part of conversations that matter when it comes to finding the right solutions.

Ultimately, transparency isn’t about being agreeable. It’s about clarity that enables a professional engagement, where questions may be “hard” and detailed, but will foster alignment when it really matters.

And in a market that’s becoming faster, more complex and less predictable — that’s exactly what we need more of.

Viktor Faucret is managing director at VIG Re France, and head of non-life treaty Western Europe. He can be contacted at: v.faucret@vig-re.com

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