Reinsurance industry capital structure; why we are where we are & what the future may hold
In this IIL reinsurance lecture Aditya Dutt discussed the evolution of capital provision in the reinsurance business, the introduction and growth of alternative capital and how these changes might impact the future of the industry.
In his presentation, Aditya explained that in the last 20 years, we have seen a significant evolution in the reinsurance industry, with fundamental changes in how companies now match risk to portfolios of capital. As technical modelling knowledge has grown, brokers have consolidated, and large pools of capital have looked for non-correlated asset, it has become a strategic imperative for reinsurers to supply multiple sources of capital to their clients.
The presentation addressed how these changes have unfolded in our industry, and how they might continue to impact the future. The central thesis is that reinsurers that are adept at managing and balancing various sources of capital will emerge as winners in an increasingly competitive industry that has a seemingly large supply of capital waiting to enter.
By the end of this lecture members would have gained an insight into:
- What major changes have impacted the industry in the past 20 years
- What are some of the models of capital provision in the industry that reinsurers have developed
- What are the responses of various industry participants to the changes we have witnessed
David Flandro, Global Head of Analytics, JLT Reinsurance Brokers Ltd.
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