Ep 32 The mid-year renewals with James Vickers, Chair of Willis Re International

Reinsurance is in a particularly interesting state at the moment.


Industry capital has recovered as capital markets have bounced
back after decisive actions from central banks around the world
and incumbents and a few start-ups have raised or plan to raise
new capital.


But at the same time the industry has shown stronger underwriting
discipline as it seeks to correct a poor run of results and tries
to get ahead of likely unsatisfactory back year development in
casualty classes.


Retro is expensive as the ILS market retrenches and traditional
buyers are looking to alternative capital solutions.


Differentiation is everywhere as sellers identify their best
clients for support and reduce involvement with lesser
performers.


At the same time uncertainty is at an all-time high and this
means demand for reinsurance from cedants is very healthy.


Throw Covid-19 into this and you have an outlook full of very
big, very difficult to answer and highly correlated questions.


Here to answer them armed with Willis Re’s 1st View mid-year
renewals report is James Vickers Chair of Willis Re
International.


Links to Willis Re’s latest report and Covid-19 assessment are
below – I heartily recommend that you read them.


LINKS


Willis Re's latest 1st View reinsurance market report:


https://www.willistowerswatson.com/en-GB/Insights/2020/07/prudence-during-unforeseen-times


Willis Re's latest view on Covid-19:


https://www.willistowerswatson.com/en-GB/Insights/2020/07/covid-19-and-re-insurers-financial-health


And our supporter Claims Direct Access (CDA)'s website:


https://www.claimsdirectaccess.com/