FEATURED INDUSTRY NEWS Markets Recent Stories Reinsurance Markets REINSURANCE/ILS WRIN.tv Newswire Guy Carpenter & RAA Execs on CAT Losses, Elections, & (Re)Insurance Markets In this edition of CEO Angles, AAIS CEO Ed Kelly welcomes Guy Carpenter Chairman David Priebe and Reinsurance Association of America (RAA) President Frank Nutter for a discussion on the current state of the insurance and reinsurance markets in the wake of a tumultuous 2020. In a year that has seen many crises, from the COVID-19 pandemic to civil unrest … Read More
FEATURED ILS & Capital Markets REINSURANCE/ILS WRIN.tv Newswire Robust Reinsurance Market Not Without its Challenges – RAA CEO. “The reinsurance market continues to be robust” according to Frank Nutter, CEO of the Reinsurance Association of America (RAA). Brokers report that capital in the market has increased, and it was a relatively “low catastrophe” year. Among the concerns and challenges facing reinsurers, cyber exposure, the reauthorization of the Terrorism Risk Insurance Act (TRIA), and the retrocessional market. The industry … Read More
Claims Management Data/Tech/Modeling EMERGING TRENDS FEATURED Homeowner/Renter/Auto INDUSTRY NEWS P&C Recent Stories Reinsurance Markets Travel WRIN.tv Newswire Innovation is Happening in Insurance, but Not Disruption – Not Yet! – Aisus CEO Mica Cooper, CEO & President of Aisus/InsureCrypt opens up about so-called ‘disruption’ in the insurance industry. According to Mr. Cooper, we’re not seeing it… Mr. Cooper notes how much people are talking about innovation, disruption, evolution and revolution in the insurance industry. He sees innovation artificial intelligence (AI) and machine learning. He points out that some innovation is “not legal”, … Read More
Data/Tech/Modeling FEATURED Recent Stories REINSURANCE/ILS WRIN.tv Newswire Customer Experience…a Modern Differentiator for Insurers – BMS Re CEO Companies are challenged to find opportunities for growth in a competitive landscape. According to BMS Re U.S. CEO Steve Korducki, the differentiator lies in technology and customer service. Mr. Korducki sees growth for insurers in cyber coverage and insurtech, particularly when organizations utilize tech-focused risk mitigation technology. Changing consumer demographics and market shifts, combined with technology advancements, mean a change … Read More
FEATURED ILS & Capital Markets Markets Recent Stories Reinsurance Markets REINSURANCE/ILS WRIN.tv Newswire US Reinsurance Market “Healthy” While Facing New Threats & Opportunities The U.S. reinsurance market is very healthy. That according to Frank Nutter, President of the Reinsurance Association of America (RAA). Mr. Nutter says capital positions have been “strong and growing” thanks, in part to alternative capital vehicles. Market conditions are “very competitive” due to the amount of supply outpacing demand. Catastrophe losses continue to be a challenge, a threat, for … Read More
AMBest-Channel FEATURED ILS & Capital Markets Markets P&C Reinsurance Markets REINSURANCE/ILS WRIN.tv Newswire Reinsurance upgraded to “Stable” as A.M. Best cites possible “inflection point” According to Stefan Holzberger, Chief Rating Officer at A.M. Best, the property-casualty sector of the insurance industry saw improvements in performance. And with levels of capitalization “robust”, A.M. Best is maintaining a “Stable Outlook” on the Personal Lines, Commercial Lines and Reinsurance sector from a credit perspective. The reinsurance sector was only recently upgraded to “Stable” from “Negative”, despite heavy … Read More
Markets Recent Stories Reinsurance Markets REINSURANCE/ILS WRIN.tv Newswire “Healthy” Bermuda market opportunistic as it fights “protectionism” – ABIR CEO John Huff, President and CEO of the Association of Bermuda Insurers and Reinsurers (ABIR) discusses the health of the Bermuda market, as well as the challenges and opportunities he sees going forward. According to Mr. Huff, the Bermuda market is “very healthy.” The market is thriving even after the significant natural catastrophes of 2017 and 2018 “nat cats” including Hurricane … Read More
Brokers/Consultants FEATURED Markets Recent Stories REINSURANCE/ILS WRIN.tv Newswire Growth, expenses, capital & technology affecting cedents – TigerRisk partner The biggest issues facing reinsurance buyers today are growth, expense management and capital efficiency, according to Mike Schnur, a Partner at TigerRisk. Carriers are focused on growing profitably through new product lines, new teams, as well as mergers and acquisitions (M&A). Carriers feel that there are costs that can be reduced to reduce expense ratios. More and more carriers are … Read More
FEATURED ILS & Capital Markets Markets Reinsurance Markets REINSURANCE/ILS WRIN.tv Newswire RAA’s Nutter discusses “blended model” and “new normal” in reinsurance sector. Reinsurance Association of America (RAA) president Frank Nutter comments on the evolution of the “blended model” in reinsurance with alternative capital contributing to the way reinsurance provides capacity to insurance companies, not just in the catastrophe area. He sees reinsurance companies diversifying into the insurance business, viewing capital markets as “largely competitive…and complementary.” Mr. Nutter admits that reinsurers have struggled … Read More
Claims Management FEATURED Homeowner/Renter/Auto INDUSTRY NEWS Recent Stories Reinsurance Markets WRIN.tv Newswire Will 2017 be a record CAT year? – I.I.I. CEO comments. 2017 has been a very active year for catastrophes…and traditional seasons are shifting. That according to Sean Kevelighan, President and CEO of the Insurance Information Institute (I.I.I.). Mr. Kevelighan points to 367 tornadoes in the first quarter of 2017, which surpasses the average of 93 by a large margin. The I.I.I. had estimated an active hurricane season, and forecasts were … Read More
Recent Stories Reinsurance Markets REINSURANCE/ILS WRIN.tv Newswire Major CAT loss unlikely to move buyer’s market in reinsurance – RAA President. Frank Nutter, President of the Reinsurance Association of America (RAA), says the reinsurance market has not changed much in previous years. “Capacity exceeds demand…It’s a buyer’s market.” Reinsurance brokers report that the “rate threshold” has not been reached as of January, and probably won’t be for the foreseeable future. He believes that even a major catastrophe probably would not likely … Read More
EMERGING TRENDS Reinsurance Markets New Technologies, Terror Risk and emerging opps in cyber, flood & mortgage risk – Holborn’s Dougherty WRIN.tv speaks with Arthur Dougherty, SVP at Holborn, about new technologies, terror risk and emerging markets in cyber risk, flood and mortgage insurance. Hurricane Matthew could have had a big impact on the reinsurance market, but it changed course and the size of the loss will not have an effect on the market. While some cedents may have significant losses, … Read More
Brokers/Consultants Claims Management Markets Recent Stories Reinsurance Markets REINSURANCE/ILS Lessons from Matthew, Protection Gap & (Re)Insurance Growth Strategies with Swiss Re’s Ningen Monica Ningen, Head Property Underwriting US & Canada at Swiss Re, discusses how Hurricane Matthew served as a reminder for insurers. She also addresses the Protection Gap and product development and distribution strategies evolving in the insurance and reinsurance market. Hurricane Matthew, while not as big a loss as was predicted, was a reminder that a big event is possible. As a … Read More
Auto/Marine/Aviation EMERGING TRENDS REINSURANCE/ILS Top 3 Reinsurance Challenges & a “Game-Changer” in Auto – Munich Re America Chief Underwriting Officer The top three challenges facing reinsurance underwriters today are too much supply versus demand, new technology and data, and cyber risk. That, according to Martin Neuhaus, Chief Underwriting Officer of the Reinsurance Division at Munich Re America. Mr. Neuhaus says the oversupply of capital demands discipline from underwriters, and new technology and the amount of data now available require underwriters … Read More
Reinsurance Markets Low interest rates pressure insurers/reinsurers…Munich Re “pushes boundaries of insurance” for growth WRIN.tv spoke with Munich Re America’s Michael Quigley, Head of Property Underwriting, and Stephan Hochburger, SVP & Client Executive, about threats and opportunities in insurance and reinsurance. In the current environment, Mr. Hochburger sees the biggest threat to insurers and reinsurers low interest rates and excess capital, as well as lower reserve levels. “Digitalization” is a new threat, but it … Read More
Data/Tech/Modeling Markets Reinsurance Markets REINSURANCE/ILS Swiss Re exec on Mutual market share, disruptive technologies, nat cat market and growth Keith Wolfe, President US P&C at Swiss Re, provides an overview of a recent Sigma Report on the Mutual sector, the impact of disruptive technologies, the nat cat market and growth. Commenting on Swiss Re’s Sigma Report, Mr. Wolfe that says the Mutual Insurance sector is stronger than ever, with an increase in market share since the 2008 financial crisis. Mr. Wolfe sees technology and … Read More
Reinsurance Markets REINSURANCE/ILS Outlook “Negative” for reinsurers in search of relevance – Rating Agencies The 2016 Monte Carlo Rendez-vous drew many of the industry’s top reinsurance professionals to discuss the state of the market. The top ratings agencies also released their verdict on the market. A.M. Best maintained its negative outlook due to weak operating fundamentals exacerbated by continued weakened demand from primary insurers as they retain more business to leverage their own excess capacity. According to … Read More
CONSUMER RISK Homeowner/Renter/Auto Reinsurance Markets REINSURANCE/ILS Louisiana floods to hit reinsurance – push FEMA to change Flood Maps More than 60,000 homes have been damaged in 20 parishes impacted by recent flooding in Louisiana. According to Louisiana’s Office of Homeland Security and Emergency Preparedness, 75% of homes are a “total loss” in Livingston. U.S. flood events are largely paid for by the FEMA’s National Flood Insurance Program (NFIP) and applicable primary insurance. The office of Louisiana Governor John Bel Edwards … Read More
Life Insurance Recent Stories Reinsurance Markets REINSURANCE/ILS Global Reinsurance Outlook “Negative” – Life Reinsurance “Stable” A.M. Best Assistant Vice President Greg Reisner discusses the rating agency’s ‘negative’ outlook for the global reinsurance sector and the new realities facing the market due to convergence capital and mergers and acquisitions. According to Best’s Assistant Vice President William Pargeans, the life reinsurance segment outlook remains ‘stable’ despite consolidation that has left the market top heavy with lower cession … Read More
FEATURED Recent Stories Reinsurance Markets REINSURANCE/ILS E&S carriers using fac reinsurance to manage “fringe” risk outside treaties. Steve Eilers, Manager of Gen Re’s L.A. operation, speaks with WRIN.tv about the property facultative reinsurance market, the tropical storm season and government insurance programs. He says market conditions in the property fac market are “competitive.” Mr. Eilers says Gen Re is seeing clients take more net in treaties, which is creating opportunities in the fac market. He sees ceding … Read More