Best’s News & Research Service - September 22, 2014 09:36 AM (EDT)
A.M. BestTV: The Rendez-Vous Conference - View of Reinsurance Market Not All Doom and Gloom; Executive Interviews
- September 22, 2014 09:36 AM (EDT)
Oldwick //BestWire// - In this A.M. BestTV episode, on location from the Rendez-Vous de Septembre reinsurance conference in Monte Carlo, key industry executives focus on emerging opportunities, the relative strength of the industry and evolving competition.
Denis Kessler, chairman and chief executive officer of SCOR, spoke about the possibility that some reinsurers will be declared systemically important, along with why and what might be the impact to the industry. "I believe that the industry is not systemic; however, in the wake of the financial crisis, it was believed that the industry should launch a concept of being systemic to other industries," said Kessler. "I don't necessarily think this will be a good thing for the industry."
Julian James, president of Allied World Europe, spoke about evolving market conditions. "You have to get your mind around managing risk directly and making sure that coverage offered is adequately priced, since the world has become a more complex place," said James.
Although A.M. Best recently put a negative rating outlook on the reinsurance industry, Stefan Holzberger, managing director, analytics at A.M. Best saw positive signs at the conference. "After being here and speaking with the participants, I see that while there are a lot of headwinds and difficult market conditions, the performance fundamentals show that it is not all doom and gloom; positive opportunities are there."
Summarizing the outcome of the conference, Roger Sellek, chief executive officer, A.M. Best EMEA & Asia-Pacific said, "It has been a fantastic week, and all the topics that were expected to be covered were on the agenda; thus, enormously beneficial to everyone ."
Click on http://www.ambest.com/v.asp?v=rvs14day5 to view the video program.
Other persons featured in this episode are:
- Michael McGavick, chief executive officer, XL Group
- Tad Montross, chairman, president and chief executive officer of General Reinsurance Corporation
Full-length interviews are available as well. Go to http://www.ambest.tv/montecarlo to see new interviews throughout the conference. Interviews conducted thus far include:
A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View A.M.BestTV episodes at http://www.ambest.tv.
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