Insured loss estimates from major natural catastrophes totaled US$39.5 billion during 2016, which is the highest level since 2012 when market losses totaled US$60 billion, according to a report published by Willis Re, the reinsurance division of Willis Towers Watson. …
“Disaster resilience should be encoded into the global financial system,” said James Vickers, Chairman of Willis Re International, in an interview at the Reinsurance Rendezvous in Monte Carlo. “It’s a big opportunity for the insurance industry.” Vickers was addressing the …
As detailed in Part I, the reinsurance industry faces the task of partially reinventing itself to expand in those sectors where it can achieve growth. Property catastrophe coverage isn’t off the table, but it’s now an overcrowded field. Ever more …
