Opinion: sharing the load

Reinsurance is one of the most globalised industries in the world today. Reinsurance provides a way to diversify and distribute losses globally and helps to stimulate economic growth, jobs and stability. Globalisation of reinsurance grows hand in hand with increased development in countries around the world. However, such rapid growth in developing countries leaves them vulnerable to large-scale catastrophic losses such as those seen recently in Thailand and Chile. Free and open access to global reinsurance markets is essential if these countries are to protect their long-term investments.