By: 25 October 2023
Reinsurance symposium explores demand for alternative solutions

On 22 October, Guy Carpenter hosted the Reinsurance Symposium in Baden-Baden. The theme was “The rise in demand for alternative solutions”. 

In the run-up to 2024 renewals, senior industry figures from the insurance, reinsurance and investment sectors discussed the marketplace.  

They discussed how buyers are responding to challenging market conditions. This includes how increased pricing is increasing the need for alternative methods to meet capacity needs.  

Symposium speakers included: 

  • Laurent Rousseau, CEO of Europe, Middle East & Africa and Global Capital Solutions, Guy Carpenter 
  • Thierry Léger, CEO, SCOR 
  • Eveline Takken-Somers, lead portfolio manager ILI, PGGM 
  • Burkhard Keese, CFO, Lloyd’s of London 

Mr. Rosseau provided an overview of the reinsurance market. He highlighted that conditions are ready for an increased use of alternative capital to meet clients’ risk requirements. 

Mr. Rousseau warned: “In today’s world, it is imperative that we establish clear alignment between all market stakeholders. We must always ensure that we deliver value for insurers and their insureds.” 

Mr. Léger explained that SCOR tailors solutions to the needs of their clients, to help them optimise their capital management. He also addressed that they develop long term risk partnerships with alternative capital providers.  

Ms. Takken-Somers highlighted that alternative capital is structurally embedded into the reinsurance industry. She states that it will continue to grow in importance if it is sufficiently aligned with traditional capital to avoid risk. In recent years, alternative capital has not met return objectives. 

Mr. Keese closed the talks by stating: “The commercial insurance market must continue its progress towards becoming a more transparent and efficient place to do business to deal with upcoming challenges, like the transition to net zero.” 

 

Image: Canva
Emma Cockings
Emma is a content editor for Claims Media.