Insurance executives spoke at the conference about how to position their operations for continued access across markets once Brexit becomes a reality.
“Brexit is a factor for Lloyd’s, because, obviously, Lloyd’s has access as part of the
“In the long run, the insurance industry is going to survive, so it is going to go on,” said Finn. “However, the reality is, there are short- and medium-term challenges the industry will face. In the medium term, it is probably going to have some restructuring, with higher capital costs as a result of that restructuring, and possibly, higher operational costs. Will they be hugely significant? No, but they could have an impact on the economics of the business.”
Other people that appear in this episode:
Kathleen Reardon, chief executive officer, Hamilton Re;
Ben Reid, chief executive officer, London Market Group;
Eric Andersen, chief executive officer, Aon Benfield;
Julian James, president, global markets, Allied World;
Greg Wojciechowski, president and chief executive officer, Bermuda Stock Exchange; and
Darren Wray, chief executive officer, Fifth Step.
Visit http://www.ambest.tv/rvs16 for full coverage of the 2016 Rendez-Vous and watch exclusive interviews with key reinsurance executives. Interviews conducted thus far include:
Recent episodes of A.M.BestTV include:
The Rendez-Vous Conference: Insurance Disruption Takes Many Forms; Fewer Aim for Core Risk: At Rendez-Vous, insurance leaders said that they hope to harness or head off market disruptors by remaking distribution and business processes or by finding new ways to share risk: http://www.ambest.com/v.asp?v=rvs2916nc.
The Rendez-Vous Conference: Reinsurers Say Relevancy is Key to Expanding the Ranks of Insureds and Risks: At Rendez-Vous, reinsurance executives said their challenge is to convince insurers and the public that their products and services are affordable, valued and effective in guarding against a growing range of global risks: http://www.ambest.com/v.asp?v=rvs1916nc.
- Global Reinsurers Focus on Innovation to Maintain Relevance:
A.M. BestVice President Robert DeRoseand Assistant Vice President Greg Reisneraddress the state of the global reinsurance market: http://www.ambest.com/v.asp?v=globalre916.
- Aon's Gray: Captive Sponsors Find Ways to
Lower Costof Risk: Nancy Gray, regional managing director, Americas, Aon Global InsuranceManagers, said captive owners are resetting limits and deductibles while taking on new coverages, all with a goal of decreasing overall cost of risk: http://www.ambest.com/v.asp?v=gray816nc.
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