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Our 2023 coverage
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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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We asked some of our live interviewees about how the challenging economic environment and counter-party risk is impacting them.
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We asked some of our live interviewees about whether there are any risks that cannot be insured.
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See a number of our interviewees offer their thoughts on what can be done to close the protection gap.
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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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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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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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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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Scott Egan talks about the strategic refocusing of SiriusPoint since he came on board, and offers his thoughts on 1.1 renewals.
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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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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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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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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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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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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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Sharry Tibbett talks about her expectations for the upcoming renewals season, and offers some advice to the industry.
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Scor's CEO of Reinsurance offers his perspective on renewals season, and talks about how recent natural catastrophes might have an impact.
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The President & CEO of AXIS Capital talks about the company's exit from the property cat reinsurance business, and expectations for 1.1 renewals.
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Marcus Winter offers his thoughts on the last 12 months in P&C in the US, and how that will impact renewals at 1.1.
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Franz Hahn talks to Meg Green about the impact of natural catastrophe on last year's performance, and the return to profitability and sustainability.
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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 reinsurer’s new CEO said demand is to outstrip supply as cedants grow and exposures expand.
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Sources have said the layer will provide the carrier with protection for the Northeast US only and attaches at a remote level.
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The carrier is one of a number of small firms with heavy concentration in Hawaii.
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Urs Baertschi from Swiss Re talks about the recent natural catastrophes and their impact on conversations at Monte this year.
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Jean-Paul Conoscente talks through Scor's new three-year plan and its implications for the P&C part of the business.
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The French reinsurer said continued price increases, particularly on cat and US casualty, remain necessary.
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Executives said the cyber market would be “dead” if it does not control accumulations.
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"I wish I could say it differently but I do think it will be a challenging renewal" says Rajeh in his interview with Meg Green.
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The move to gear up for a listing follows a non-deal roadshow held over the summer.
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The executive will work within the retrocession and property specialty division, as well as supporting the London market and global production activity.
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Some 15 months on from the property reinsurance exit, he said the firm continued to reserve the right to reshape the portfolio.
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Perils said that supporting risk transfer through index-based ILS would help to free up reinsurance capacity.
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Despite a successful upstreaming of cat risk to primary insurers, reinsurers still have multiple factors to worry about in the run-up to 1 January 2024.
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Arch Re CEO Maamoun Rajeh says renewals need to be more like performance reviews: telegraphed with no surprises, as there is no upside to late games of “chicken”.
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The changes have resulted in as much as 20%-30% increases for certain portfolios, sources said.
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The country’s second-largest carrier has disclosed around EUR100mn in gross losses during H1.
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The group structure would constitute a Bermuda-based rated carrier, and an associated fund structure.
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The pressure on catastrophe terms and conditions seen at the January 2023 renewals will likely not be repeated as renewals get more orderly in 2024.
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The ratings agency said the improvement was a result of “high pricing discipline driving a hard market, rising investment yields and a strong demand for reinsurance protection”.
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This is the first multi-year plan led by the new CEO.
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Some reinsurers are developing products and solutions for cedants’ newly retained risk under those higher attachment points, executives noted.
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Carriers benefited from improved rate adequacy and the impact of interest rate rises on investment returns.
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The ratings agency said the reinsurance market was ‘the hardest in decades’ amid tightened terms and conditions as well as increased rates.
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The insurer has been working to build a reputation for favorable reserve development after past sins.
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Warehouse or science lab? Those tend to be two of the diverging views on Swiss Re, the oldest reinsurer, with a 160-year history.