Reinsurance Renewals - The changing face of relationships
Source: Asia Insurance Review | Nov 2012
Relationships continue to play a major role in Asia’s reinsurance industry. At a recent roundtable organised by Asia Insurance Review on the ever-changing reinsurance landscape in the region, 11 industry leaders in the region consisting of six reinsurers and five reinsurance brokers discussed the growth and sustainability of the business with a focus on the evolving status of relationships and the impact of price. The roundtable members shared how the concept of relationships has changed over the years, and agreed that today the pressure is on for the need to strike a balance between relationships and getting the necessary returns on capital. Gone are the days when reinsurers wrote businesses only because of relationships. The right risk adequate pricing is part of this balance.
By Benjamin Ang
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