Welcome to the third instalment of the podcast where I use the annual Monte Carlo RendezVous to gauge the outlook ahead of the key 1.1 Reinsurance renewals.
This year, a lot had changed in the preceding 12 months. 2023 results had been almost universally excellent for all reinsurers and capital had returned to very healthy levels.
Colour and confidence were visibly returning to the market.
Smiles and receptive ears were in far greater supply than a year previously and the grim mood of two years ago had been almost completely forgotten.
The only flies in the ointment were continued emergence of poor back year performance in some US casualty classes and a hesitancy among investors who still seemed more ready to punish any bad news, than reward the good.
Whatever had been black and white two years ago was becoming progressively greyer and choice and options over what - and how and in what shape or size reinsurance could be bought - were beginning to open up for cedants.
In short this is a market of nuances and one where experienced traders are going to be given an opportunity to shine.
So join me as I root them out from either side of the underwriting desk and find out what’s going on.
My promise to you is that if you weren’t lucky enough to be down on the Cote D’Azur in early September, listening to this podcast will be the next best thing to having been there in person, in the rooms, suites, cafés, restaurants and lobbies with me as I interrogate a large number of key industry personnel.
Give me the next hour and I’ll give you the State of (Re)insurance.
NOTES:
GL = General Liability
LINKS:
We thank our sponsor Stephens Rickard:
www.stephensrickard.com
