A.M. BestTV: The Rendez-Vous Conference: Reinsurers Adapting to an Unforgiving Market, A.M. Best Analysts Say

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FOR IMMEDIATE RELEASE

OLDWICK - SEPTEMBER 16, 2016 11:45 AM (EDT)
In this ^A.M.BestTV episode on location from Les Rendez-Vous de Septembre (Rendez-Vous) reinsurance conference in Monte Carlo, Monaco, A.M. Best Vice President Robert DeRose and Assistant Vice President Greg Reisner discuss how reinsurers have attempted to adapt to the increasingly competitive market by focusing their products on new technologies and geographic regions. Click on http://www.ambest.com/v.asp?v=rvs5916nc to view the entire program.

Reisner believes that the mood of the industry is one of optimism in the future of reinsurance.

“I do get a sense of optimism from the reinsurance companies in terms of not necessarily expecting the market conditions to change anytime soon, but in reference to feeling they can find a way to innovate and navigate through the market by adding some value and excitement to what’s going on,” explained Reisner.

DeRose added that he sees companies focused on innovation to find ways to increase relevance and create opportunities.

“Obviously, the challenges that exist in the market are probably going to be with us for the near term. I think what reinsurers are trying to do is to find ways to make the best of a difficult situation,” said DeRose. “In terms of technology, trying to find ways to enhance and streamline the risk selection process and achieve better efficiencies in order to find ways to squeeze some cost out of the acquisition process.”

Visit http://www.ambest.tv/rvs16 for full coverage of the 2016 Rendez-Vous and watch exclusive interviews with key reinsurance executives. Interviews conducted thus far include: David Reeves, chief executive officer, Barbican Insurance Group; Gero Michel, managing director, Chaucer Copenhagen; Rodrigo Botti, general director, Terra Brasis; and many others.

Recent episodes of ^A.M.BestTV include:

• The Rendez-Vous Conference: Insurance-Linked Securities Must Address New Risks or Face Slower Growth, Executives Say: At Rendez-Vous, insurance-linked securities (ILS) experts say the overall growth of ILS continues, but the quicker turnaround and lower costs of collateralized reinsurance have made it attractive to a larger pool of investors: http://www.ambest.com/v.asp?v=rvs4916nc.


• The Rendez-Vous Conference: Brexit Has Insurers Exploring New Relationships, Changes to Operations: At Rendez-Vous, insurance executives spoke about the United Kingdom’s withdrawal from the European Union, which is setting off a host of potential changes within the London insurance market: http://www.ambest.com/v.asp?v=rvs3916nc.


• The Rendez-Vous Conference: Insurance Disruption Takes Many Forms; Fewer Aim for Core Risk: At Rendez-Vous, insurance leaders said that they hope to harness or head off market disruptors by remaking distribution and business processes or by finding new ways to share risk: http://www.ambest.com/v.asp?v=rvs2916nc.


• The Rendez-Vous Conference: Reinsurers Say Relevancy is Key to Expanding the Ranks of Insureds and Risks: At Rendez-Vous, reinsurance executives said their challenge is to convince insurers and the public that their products and services are affordable, valued and effective in guarding against a growing range of global risks: http://www.ambest.com/v.asp?v=rvs1916nc.

^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 .

A.M. Best is the world’s oldest and most authoritative insurance rating and information source.