Since 1957 Reinsurers have been meeting in Monaco for the Rendez- Vous conference. More than 2600 professionals from 80 countries meet in Monte Carlo with this year being its 61st anniversary. Following the recent Hurricanes hitting the Caribbean, it was always going to be an interesting time to be amongst the leading CEOs in the Insurance world and in the beautiful sunshine, it was hard to imagine the chaos that was happening on the other side of the world and what impact it was having on the families there.
Sami Alkarim and I had the privilege of spending time amongst these CEOs and asking their opinions on how they saw the market changing on the back of the hurricanes. The consensus was divided on whether this was in fact a market changing event or whether there was enough capital in the market to absorb it.
One of the highlights of the week was at the Swiss Re reception. Here we were welcomed by robots serving gin and tonics and saw a glimpse into what the future might hold, both for Insurance and the modern world. MS Amlin were fantastic hosts on their two tiered super yacht where we spent the evening discussing the growth of the African market with Mikir Shah (CEO AXA Africa Specialty Risks).
Following Mike Sapnar’s (CEO Transatlantic Re) most enjoyable talk at the Pre Rendez-Vous and his thoughts on live pricing it was a heavily debated topic on whether firms could theoretically offer this. To all of the Actuaries reading this, is this something that might be possible and could you ever see it being rolled out?
Written by William Gallimore.