Where goes the Reinsurance World?
Source: Asia Insurance Review | Oct 2016
With the disruption in the marketplace, reinsurers need to adopt new approaches, be agile and ambitious to survive the new world order. With rates being an issue, our Cover Story looks at the way reinsurance is brought, the abundance of capital, the need to improve efficiencies to shake off softening rates and how reinsurers are offering new innovations to differentiate themselves to survive.
The 60th Monte Carlo Rendezvous that kickstarted the renewal season stressed the need for an ultimate hardening given the sheer economies of the factors affecting the business and the drive to remain sustainable. But the ground sentiments are challenging and the market is still in favour of buyers. Nonetheless, there are still new reinsurers sprouting, showing pockets of optimism still abounding.