Swiss Re Insurance-Linked Fund Management

Original Risk: A Society for Change Agents

Artemis Monte Carlo Rendezvous Executive Roundtable 2019


Welcome to the fourth Artemis Monte Carlo Reinsurance Rendezvous Roundtable, in which participants from across the insurance, reinsurance, and insurance-linked securities (ILS) market discussed a range of industry topics and trends.

artemis-monte-carlo-roundtable-cover-2019Since 1957 reinsurance companies, insurer clients, investors and service providers have met in Monte Carlo, Monaco at the reinsurance Rendezvous event.

Increasingly, alternative sources of capital and ILS has been a key topic of discussion at the meetings and for the last four years we’ve been convening a group of industry leaders for an executive level discussion on the state of the market.

The conversation started with an exploration of ILS market response to the heavy loss experience over the last two years and subsequent loss creep.

Participants explored investor appetite and debated whether the ongoing change across the alternative sector is perhaps cyclical in nature, rather than structural.

An increase in demand for proportional business was highlighted, as was a desire to provide investors with both more risk and longer-term deals.

The potential impact of Solvency II and how this compares with the regulatory landscape in the U.S. was touched upon by market experts, and, participants offered their views on what it might mean for the market heading into another prolonged period of low interest rates.

In spite of recent losses and the challenges faced by some in the ILS community, both investors and managers remain committed to the space.

Participants agreed that ILS has the potential to play a greater role in the property catastrophe markets of the world, but the potential for the asset class to have an influence in other, emerging areas such as cyber risk, was also debated.

The structural features of the ILS asset class have been tested over the past couple of years, and roundtable participants highlighted that the recent claims experience has helped to educate a marketplace that continues to learn through the reserving process.

Looking forward to 2020 and beyond, and market experts underlined the need for disciplined underwriting amid changing and challenging retro market conditions, as well as an ongoing need for a more efficient cost of capital, and more efficient operating models.

Thank you to our Roundtable sponsor Property Claim Services (PCS).

Download your copy of the Artemis Monte Carlo Rendezvous Executive Reinsurance Roundtable 2019.

Download copies of all of our Executive Roundtable reports here.

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