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WRIN.tv speaks with James Vickers, Chairman of Willis Re International & Specialty, during the 2015 IIS Global Insurance Forum at the United Nations, about the changing mindset toward the use of capital in the industry. He says there is a new model emerging, with regard to the source and use of capital.

“There is about $65 billion invested in the industry”, which Mr. Vickers says “is a small drop in the ocean (compared) to what is potentially available. “ The challenge for the industry is how to use it.

Initially independent entrepreneurial-type funds started to invest in the reinsurance industry. Mr. Vickers says mainstream reinsurers are now setting up their own fund management businesses.   The industry is beginning to morph. Mr. Vickers sees hybrid companies accept risk on their own balance sheet, while managing risk for others.  “If capital wants to come to our industry, we need to put it to innovative use… and not fight it.“

For more of our coverage of the IIS Global Insurance Forum, visit the WRIN.tv On Demand Library.

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