A general overview of the reinsurance market
In this IIL reinsurance lecture David Flandro talked about the disruption currently taking place in (re)insurance markets which is at its most acute since the culmination of the financial crisis.
Industry reserves, deteriorating earlier catastrophe losses, and eye-popping expense ratios are combining with macro headwinds, the changes in investor appetite and less predictable global capital flows. All of this is driving an increased focus on risk selection and costs of capital. The most visible result is a hardening of pricing across multiple business lines, but the solution this time may not be capital driven, but technology driven.
Market disruption has happened before. The traditional response has been a round of capital raising and a new 'class' of (re)insurers with strategies designed to take advantage of the dislocation. The sector's response today will be different. It will be driven not just by new capital, but also by wholly different means of processing and analysing underwriting data. This will require better servicing of capital with cutting-edge risk selection bolstered by data and technological innovation.
By the end of this lecture members would have gained an insight into:
- The state of the current (re)insurance market
- How the market may respond
- Ideas for how the market might evolve to meet its current challenges, especially through the use of technology
Alan Grant, Chartered Insurer.
Registration & Security
IIL lectures are open to CII and PFS members
CII and PFS members must register online by 2pm one working day before the lecture
For lectures held in The Old Library, Lloyd's pass holders may also attend and do not need to register
All attendees (at any venue) must produce photo ID - either a Lloyd's pass, driving licence with photo or valid passport
- Email confirmations and photo ID must be produced to security staff at the lecture venue
- Attendance confirmations are non-transferable to any other person or lecture
- All venues have limited capacity and registration and/or a Lloyd's pass does not guarantee admission
Please let us know what we can do to make our events fully accessible to you.
This demonstrates the quality of an event and that it meets CII member CPD scheme requirements.
3/4 hours' CPD can be claimed for this event if relevant to your learning and development needs.
It is recommended that you keep any evidence of the CPD activity you have completed and upload copies to the recording tool as the CII may ask to see this if your record is selected for review. Details of the scheme can be viewed online at www.cii.co.uk/cpd.