Monte Carlo 2023
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The psychological wounds of the past were serious, and the sector’s redemption arc with capital will take time to play out.
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Insurance Insider has compiled a bite-sized wrap-up of the exclusive news stories and CEO interviews from this year's Monte Carlo Rendez-Vous.
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The paradox of “the best reinsurance market in years” is that there are still question marks over who wants a piece of it.
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Hurricane Idalia is a reminder of the new normal cat environment and that reinsurers must continue to ensure they do not pick up attritional losses, the company’s P&C head said.
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A poor talent pipeline has exacerbated wage inflation in (re)insurance. Is there a short-term fix to this challenge, or must the sector wait for the bubble to burst?
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The chairman stressed that his new start-up will focus on the liability side of the balance sheet not the asset side – in distinction to the hedge fund re model.
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The seller is facing an uphill struggle convincing its legacy rivals that there is strategic value in the merger deal.
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Nicholas Lyons plans to champion the London market's expertise on cyber and climate risk, and discuss ideas for a consolidated systemic risk pool.
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Andrew Carrier said after wide ranging remedial work, the Lloyd’s carrier was targeting “measured, profitable growth” for 2024.
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The executive also recommitted Aon to its mission around creating net new markets – including growing IP – in the wake of the Vesttoo issues.
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Chairman and CEO Jean-Jacques Henchoz sees affordability of insurance becoming a politicised issue, while discussions on preventive measures remain on the sidelines.
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Insurance Insider explores how insurers can manage the dual, polar-opposite pressures of a litigious anti-ESG movement and net-zero climate activism.
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Former Tokio Marine Kiln (TMK) reinsurance heads Will Curran and David Huckstepp are testing the water for an underwriting start-up, this publication can reveal.
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Our virtual roundtable polled industry leaders on critical questions for the reinsurance market. Today, we explore how the industry can collaborate on net-zero objectives after insurers exited the Net-Zero Insurance Alliance (NZIA) in droves.
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Last week, the Bermudian carrier filed its draft registration statement for a proposed IPO to the US Securities and Exchange Commission.
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Alongside a parametric scheme, a further insurance pool providing up to $1bn in cover will recoup funds to benefit the post-quake recover.
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The carrier said there was still “room for improvement” in the property cat market.
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Industry sources view the letters of credit (LOC) fraud scandal at Vesttoo as a specific rather than systemic failure, with further scrutiny likely on LOC providers.
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The carrier describes reinsurers’ current strategy of dealing with cyber policies as "a game of whack-a-mole"
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New risks for 2023 were artificial intelligence and de-globalisation, according to PwC’s latest Reinsurance Banana Skins report.
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CEO Jean-Jacques Henchoz said it was “difficult to find a positive trend” in the global risk outlook.
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So far, no other reinsurer has come out publicly to align itself with Munich Re’s stance on cyber war, leading to a patchwork of approaches at cedant and reinsurer level.
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The carrier is one of a number of small firms with heavy concentration in Hawaii.
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The reinsurer’s new CEO said demand is to outstrip supply as cedants grow and exposures expand.