Share on Facebook Share on Twitter Share on Google+ Share on Linkedin At the 2015 European Insurance Forum, WRIN.tv spoke with Charles Goldie, Deputy CEO of the Global Non-Life operations at Partner Re, about major issues affecting reinsurance today, and where he sees opportunities for growth. Mergers and acquisitions are among the top issues affecting the reinsurance industry today, Mr. Goldie says, due to the amount of capital coming into the industry. He also sees changing risks in the business: “we have been a CAT-dominated industry…(but) that is changing.” Finally, he says managing a reinsurance company and how you handle the change of the business and capital structures today is a challenge. It is hard to say what will move the market. Mr. Goldie says “we are in a more efficient world.” However, he thinks “model bust” could be the cause…should losses from a catastrophe fall outside the parameters of today’s risk model, and cost 4 to 5 times what was expected, this would cause companies to rethink their investment strategies. Even though people are talking about analytics and Big Data, Mr. Goldie does not believe reinsurance can be modeled. In the motor insurance market, companies retain their data for long periods of time in the reinsurance industry. “Data is the antithesis of risk, as people understand the risk through models and data, they retain it. It is risk that is not understood, such as cyber or new risks that can’t be modeled, that is reinsured. According to Mr. Goldie, growth in the reinsurance market is very challenging. “You have to grow intelligently.” He suggests reinsurers need to grow with their clients while “increasing performance, increasing efficiency…and building the relationships in the areas where you already have the expertise. These are the keys to success in the near future.” For more World Risk and Insurance News from the 2015 European Insurance Forum (EIF) Conference in Dublin, visit the dedicated EIF 2015 Channel in the WRIN.tv On Demand Library.