Press Release - APRIL 27, 2018

A.M. BestTV at MORO: Mutual Insurers Form Tight Bonds With Reinsurers


CONTACTS:
 Lee McDonald
Group Vice President, Publication and News Services
+1 908 439 2200, ext. 5561
lee.mcdonald@ambest.com


FOR IMMEDIATE RELEASE

OLDWICK - APRIL 27, 2018
In this A.M.BestTV episode at the Meeting of Reinsurance Officials (MORO) conference in Montreal, a panel of insurance and reinsurance executives discuss the increasing role reinsurance is playing in how insurers, particularly mutual insurers, are managing their risks. Click on http://www.ambest.com/v.asp?v=moro3418 to view the entire program.

The panelists spoke about the role of mutual insurers in the 21st century.

“Technology is helping mutual companies grow and expand their product offerings. Technology has given mutuals the capital and stability to actually take additional risks,” said Samuel Broomer, executive vice president & chief operating officer, Berkley Re Solutions.

“Mutuals have the ability to take a more longer-term view than stock companies and reinsurance has the capacity that allows them to take that view,” said Geoff Lubert, executive vice president & managing director of Willis Re Canada.

Steve Johnston director, reinsurance, Co-operators General Insurance Company, highlighted the responsibility each company has to its policyholders.

Johnston said, “It is about protecting our policyholders, being there for them when they need us the most, and when they do mutuals and co-operative reinsurance provides the solution to that problem.”

Also appearing in this episode:


  • Andreas Beckmann, chief underwriting officer and director, R+V Versicherung AG; and

  • Apundeep Lamba, vice president, corporate actuarial & reinsurance services, The Co-operators Group.

For full video coverage of MORO, including exclusive executive interviews, visit http://www.ambest.tv/moro18 .

Recent episodes of A.M.BestTV include:


  • Growing Global Protectionism Undermines Reinsurance: At the MORO conference, insurers and industry leaders said nations that restrict cross-border insurance, manipulate interest rates and react to disasters with short-sighted solutions are limiting insurers’ ability to provide a full range of risk solutions: http://www.ambest.com/v.asp?v=moro2418 .

  • Mutuals on Reinsurance Rates: What Can’t Be Sustained, Won’t Be, Says Expert Panel: At the MORO conference, a panel of insurers, reinsurers and brokers said 2017’s catastrophes brought temporary uncertainty to the market, but there’s been little slowdown in reinsurers’ pricing wars: http://www.ambest.com/v.asp?v=moro1418 .

  • St. Joseph’s Students Succeed in Competition by Focusing on Uninsured Risk: Tango Consulting, a project organized by insurance students at St. Joseph’s University in Philadelphia, PA, developed its coverage strategy using a non-traditional risk analysis technique: http://www.ambest.com/v.asp?v=rims8418 .

  • It’s Not Having a Policy That Matters, Rather It’s How You Respond, Says Employment Liability Panel: Experts on employment practices liability said the spate of high-profile sexual harassment allegations is driving interest among organizations seeking to protect themselves against claims, which have been rising in severity: http://www.ambest.com/v.asp?v=rims7418 .

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.