Our latest Artemis Live video interview includes James Vickers, Chairman of Willis Re International, part of the international reinsurance broking system of Willis Towers Watson, who joined us to go over reinsurance market efficiency and capital trends.James Vickers and I discussed how Willis Res reinsurance customers are finding market conditions in the context of the stable firming, even solidifying, seen across current renewal seasons.
We talked about international reinsurance capital levels and why, despite the market being well-capitalised and having bounced back strongly from the pandemic, we continue to see positive rate momentum and havent returned to a softening cycle as.
On market conditions for Willis Res customers, Vickers discussed, “For some customers, theyre seeing a relatively gentle boost. They have not produced much in the method of reinsurance losses and to be reasonable if they take a look at their reinsurance over a long-lasting basis they have delighted in, definitely the last 7, eight maybe nine years, some susbstantial rate decreases. Some mild firming is something that they can cope with and is an affordable result.”
Vickers also talked about a few of the underlying functions of reinsurer performance at this time, describing the difficulties that reinsurers face in a low rates of interest world, but likewise what has been assisting keep them lucrative.
He likewise stressed the requirement for underwriting go back to improve even more, particularly when some reinsurers have new capital investors to please at this time.
We also discussed the recent efficiency of the insurance-linked securities (ILS) market and Vickers discussed that he feels ILS funds and investors have actually discovered a lot after some more difficult years, which he believes indicates the discipline being seen in ILS capital implementation is set to continue.
Lastly, Vickers shared his market outlook, stating that he sees no factor for firming rates not to continue at this time.
The complete video interview is embedded listed below and can likewise be seen completely, in addition to previous Artemis Live video interviews, over on our YouTube channel.
You can likewise listen in audio to our interviews by signing up for the Artemis Live podcast here.
All of our Artemis Live video interviews have a concentrate on reinsurance, ILS and the performance of risk transfer and can be accessed directly from our YouTube Channel.
You can also eavesdrop audio to these interviews by signing up for the Artemis Live podcast here.
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