- Newslink Global Insurance Trends-The Week
- Lloyd's first half aggregated market profit £0.6bn-combined ratio improves, investment income drops
- Standard & Poor's reports on Monte Rendez-Vous
- LMA launches new report-"InsurTech-led change in the Lloyd’s Market"
- Willis Towers Watson report says 71 InsurTech funding transactions in second quarter a record but $579m invested down 20%
- Over twenty insurance sector start-ups set to unveil their intention to form an alliance known as Insurtech UK.
- Accenture survey indicates financial services firms are closing the gap on cyber attacks, having stopped four in five of all breach attempts last year expired
- RMS and Cambridge Centre for Risk Studies(CCRS) announce the release of a new Data Definitions Document v1.0 for 14 different classes of insurance exposure which covers an estimated $554tr of total insured limits globally expired
- Willis Towers Watson announces Property Quantified, a first-of-its-kind technology platform to help organisations analyze potential property losses across a global portfolio with the aim of optimizing risk transfer and insurance strategies expired
- CII reduces gender pay gap expired
- ABI commissions new report-"Tackling the gender seniority gap: what works for the insurance and long-term savings industry" expired
- SSP becoms a signatory of both the Inclusive Behaviours in Insurance Pledge and the Tech Talent Charter expired
12th September 2018
PartnerRe have optimistic view of reinsurance market
PartnerRe’s president & ceo, Emmanuel Clarke and ceo of P&C, Charles Goldie, set out an optimistic view of the reinsurance market against the context of an industry in flux, at a press conference at the Monte Carlo Reinsurance Rendez-Vous 2018.
Striking a positive tone at the outset of the event, Clarke said that there was a bright future ahead for reinsurers that can increase their relevance in a riskier world where demand for volatility protection is growing.
He pointed to a reversing trend in recent years among large global insurers that have been moving away from buying reinsurance only for capital management purposes, towards reinsurance solutions for both capital management and volatility control.
PartnerRe’s privately-owned reinsurance model he said, was particularly well placed to play a role in managing volatility because it focuses on economic value creation over the long term and not on managing quarterly volatility.
Cycles, he said, would remain but with lower amplitude and that success now depends on how efficiently reinsurers execute and succeed in creating value for their clients.
“Our insurance clients want to work with reinsurance partners that have a vested interest in helping them to grow and develop their businesses, support their most confidential initiatives and that can provide capacity after large or unexpected events,” he said. “PartnerRe’s business model as a pure-play, privately-owned reinsurer perfectly positions us for that role.”
Looking to the future, Goldie said that reinsurers needed to be able to match capital in order to lower the overall cost of capital for their clients across a broad suite of reinsurance solutions.
Reinsurers need to become experts at sourcing and matching capital. We believe using all forms of capital to improve our product offering for our clients is the right thing to do,” he said.
Further, in the face of a consolidating reinsurance market, he said that the most successful reinsurers would be those that remain nimble and agile as they become larger."
PartnerRe Trends(193 articles)