Christian Mumenthaler, Chief Executive Officer of the world’s largest reinsurance company Swiss Re, joined us this month, to discuss how his company has fared since the pandemic, the state of the market and what his outlook and priorities are for 2021.
Mumenthaler discussed a wide range of topics, from the current status of Swiss Re as it deals with claims from the Covid-19 pandemic, to reinsurance renewal expectations, use of insurance-linked securities (ILS) and alternative capital, innovation, technology, the protection gap, as well as an outlook for 2021 and beyond.
All of our Artemis Live video interviews can be accessed directly from our YouTube Channel, including interesting discussions with leaders of the ILS and reinsurance industry, as well as group discussions on the topics that matter.
Mumenthaler explained how Swiss Re is positioned at this time and what he expects from renewal rates saying, “Our outlook is optimistic. With everything that’s happened, I think the industry is obviously moving.”
Adding that, on rates across insurance and reinsurance, “More is needed for the industry to be sustainable and I think everybody understands that.
“We’re optimistic, we’re extremely well-capitalised.”
But it’s not about growth at any cost, no matter how well-capitalised Swiss Re is.
The company has spent time in the last year ensuring its coverage is accurately priced.
Mumenthaler said that the reinsurer has “got tougher on assessing the risk itself.”
“Quality will matter right? I’m not saying this is a great opportunity to grow like hell. I think the whole industry needs to focus on quality,” he continued.
On use of alternative reinsurance capital, which has been expanding at his company in the last year, Mumenthaler said, “I always believed that the capital market will play an important role in closing this protection gap.
“I think it’s here to stay, in the Nat Cat field, in some of these peak risks. I think it will play a bigger and bigger role.”
The full video interview is embedded below and can also be viewed in full, along with previous Artemis Live video interviews, over on our YouTube channel.
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All of our Artemis Live video interviews have a focus on reinsurance, ILS and the efficiency of risk transfer and can be accessed directly from our YouTube Channel.
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