Cedants’ strategies changed by risk appetite statements
Tuesday, 03 22 2016, Category: Insurance and Reinsurance, Country: World
The adoption of formal risk appetite statements by insurers is driving a fundamental shift in reinsurance purchasing as insurers adapt to increasing regulation and wider scrutiny from investors, according to new research by Willis Re.
Almost two-thirds (64 percent) of insurers now have a formal risk appetite statement, with a further 17 percent planning to develop one in the near future, according to findings from the reinsurance broker’s new global survey
Of those that have a risk appetite statement, the vast majority (87 percent) are using this to drive reinsurance decision-making.
Source: Intelligent Insurer