The September 2011 issue of Reactions

The September 2011 issue of Reactions

The September 2011 issue of Reactions is now online.

The cover story looks at the push by the world’s biggest reinsurers – including Munich Re, Swiss Re and Scor – into corporate insurance business. We ask whether this means they are treading on their clients’ toes.

 

The issue included a special focus ahead of the reinsurance renewals coming up on January 1 2012. We held a roundtable in London to discuss how the catastrophes this year had affected the market. We also analysed the results of the top European reinsurers to assess which is in the best position.

 

The issue also features two exclusive interviews. The first is with Leonardo Paixão, chairman of Brazilian reinsurer IRB-Brasil Re, on how his firm plans to expand after losing its monopoly of the Brazilian reinsurance market in 2007. The second is with former AIG chief Martin Sullivan, who is now enjoying a new role as deputy chairman of Willis.

 

We also took an in-depth look into specialty lines. The issue includes a focus on how marine insurers are responding to an increase in piracy on the high seas as well as a marine market overview. We also looked at why Lloyd’s of London’s franchise performance director Tom Bolt is concerned about energy exposures.

 

Not done there, we held a roundtable in New York to discuss how insurers should be approaching their asset management strategies. Lastly, we assess the first-half activity in the insurance -linked securities (ILS) space in our Convergence Quarterly section.

 



COVER STORY

 

Reinsurers take aim at corporate insurance

Reinsurers are moving into the corporate insurance space. What are they offering and, more importantly, aren’t they competing with their core clients?

 


FEATURES

 

Reinsurance renewals: Monte Carlo Preview Roundtable

Reinsurers' first-half was dominated by catastrophes, leaving cedants running for cover. Reactions, in association with Towers Watson, held a roundtable in London ahead of the Monte Carlo Rendez-Vous to find out what to expect from January 1 reinsurance renewals.

 

Monte Carlo Preview: Heading into a turn?
This year’s curtain raiser for the January 1 reinsurance renewals will be dominated by reinsurers trying to talk up rates after a punishing first half. But brokers and cedants suggest they may fail. 

 

European reinsurers' results
European reinsurers beset by heavy first-quarter property-catastrophe losses have had a warm and calm second quarter to recover. We analyse the first-half results of Munich Re, Swiss Re, Hannover Re and Scor. 

 

Marine lines at low ebb
Marine insurance has been hit not only by soft market rates but also the effects of a global drop in trade on the shipping industry, leaving hard-pressed insurers fighting to make a profit.

Marine piracy on the rise
Somali piracy has spiralled out of control over the past decade, holding maritime trade hostage, endangering global energy supply and costing $238m in ransom payments last year alone. But what role is the insurance industry playing? 

 

Bolt conserves energy
Lloyd’s is tightening up its energy liability exposures after lessons learned from 2010’s Deepwater Horizon disaster and subsequent energy losses, putting new scrutiny on underwriters’ plans for 2012. 

 

Interview: Willis’ Martin Sullivan - Renaissance man
Martin Sullivan, who was appointed deputy chairman of Willis last year, discusses his role and objectives now that he has re-invented himself as a broker after formerly being CEO of AIG. 

 

IRB’s Leonardo Paixão thinking beyond Brazil
IRB-Brasil Re has had a tough time adjusting to no longer holding a monopoly of the Brazilian reinsurance market. Its plan to cope with losing market share in its own country is to aggressively target growth in other markets, its chairman tells Reactions. 

 

Insurance asset management roundtable - Unchartered waters
Reactions brought executives from Deutsche Insurance Asset Management and a leading asset manager from the insurance industry together in New York to work out what insurers can do to cope with the great stress on their assets. 

 

Convergence Quarterly: ILS activity in H1

The second quarter was a quiet period for cat bond issuance. Issuers and investors have taken time to digest the barrage of catastrophes and how it will affect the insurance-linked securities (ILS) market. Includes data of all cat bond deals in 2011

 

9/11, a decade on
The September 11 attacks were the largest insured catastrophe loss in global history, and no event since has so fundamentally reshaped risk perception, argues the III’s Bob Hartwig

 

ANALYSIS: Others may follow Lancashire to UK
Law firms suggest that recent softening in UK tax laws, alongside Bermudian plans for equivalence with Solvency II, may draw firms back to the UK

 


COMMENT

Spitzer’s legacy unravels further
At the start of August, four ex-General Re executives and one former American International Group (AIG) executive had their 2008 criminal convictions for fraud thrown out by a US appeals court. 

 

Ready for a Category 6 hurricane?
A fascinating article in a science journal reveals there is growing consensus that the five point Saffir-Simpson scale for classifying windstorms is no longer appropriate, says Reactions contributing editor Garry Booth. 

 

Hiscox's Dupplin on reinsurance collateral requirements

In the latest in our View From The Top series, Charles Dupplin, CEO for Hiscox in Bermuda, applauds the growing relaxation of collateral requirements in the US for alien reinsurers, while calling on international markets to ensure barriers aren't raised elsewhere.

 


RISKBITZ

 

RISKbitz: Monte Carlo jamboree to be slashed
The insurance and reinsurance satire news service reports cat losses are set to radically alter this year’s Monte Carlo Rendez-Vous.

RISKbitz: New cat models could mean reinsurance losses
Sir Norbert “Nobby” Johnson, chairman and chief claret officer (CCO) of Mocha Re, said the new models showed that reinsurers could face losses from catastrophes.

RISKbitz: Reinsurers hire superheroes as part of soft market strategy
Reinsurers are increasingly turning to superheroes in a last-ditch effort to stand up to brokers and try to turn the underwriting cycle. 


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In this month's Reactions

  • Women in Insurance
  • Emerging Risks
  • China's Cyber Market
  • Mike Foley interview
  • Russell Johnston interview

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