Reinsurance Industry Faces an Uncertain Future
Saturday, 07 04 2015, Category: Insurance and Reinsurance, Country: World
It’s around two months until the annual Reinsurance Rendezvous in Monte Carlo, where the reinsurers, brokers, carriers, lawyers, accountants and cat modelers discuss the state of their industry. That industry, until recently a rock solid bastion of the “we do it that way, because we’ve always done it that way” school of management, is in a state of flux, roiled by events both from within and without. It is searching for ways to continue to provide the risk coverage that underpins economic life in a world that has been changed drastically in a very short period of time.
Mike Van Slooten’s task, as head of Aon Benfield’s International Market Analysis team, is to make some sense of what’s going on in order to advise the firm’s clients what to expect and to guard against. But even he admits “it’s not an easy job.”
Source: Insurance Journal