Industry’s future lies between traditional reinsurance & ILS
Tuesday, 11 08 2016, Category: Insurance and Reinsurance, Country: World
The numerous challenges and hurdles facing global insurers and reinsurers suggests the market needs to evolve at a faster rate than it has historically, and the future of the industry lies somewhere between the traditional and alternative model, according to John Charman.
Speaking on a panel at the 2016 National Insurance Conference of Canada (NICC), Chairman and Chief Executive Officer (CEO) of Bermudian insurer and reinsurer Endurance Specialty Holdings Ltd., John Charman, highlighted a need for further innovation and evolution of the insurance and reinsurance marketplace to meet the evolving needs of countries, such as Canada.
“I think that my view for the future of our industry is we can’t stay as traditional insurers and reinsurers, we have to find a way of evolving much more quickly than we have done over the last 400 years,” said Charman.