AM BestTV at the SIRC Conference: Attendees Say Challenges Include Weather, Talent and New Coverages
OLDWICK, N.J.--(BUSINESS WIRE)--Nov 4, 2019--
In this AM BestTV episode from the Singapore International Reinsurance Conference (SIRC) in Singapore, attendees said pricing discipline, remaining relevant and retaining talent are among the challenges facing the reinsurance market next year. Click on http://www.ambest.com/v.asp?v=sirc11019 to view the entire program.
Attendees spoke about the challenges that the reinsurance industry continues to face, as well as what they perceive the outlook for the industry will be over the next 12 months.
“During the next 12 months, the biggest challenge will be maintaining pricing discipline and following an underwriting philosophy that will contribute strongly to the balance sheet,” said Salyajit Tripathy, deputy general manager and chief investment officer, GIC Re.
Christian Stobbs, managing director, Asia, Markel International, views retaining talent as an ongoing challenge.
“It is about recruiting the right people and developing existing talent. I am very excited about the number of people I have been interviewing and finding good, local talent across Asian markets,” said Stobbs. “It is always a challenge because getting the right people is hard in terms of capability and fit for your company. However, it is quite an exciting opportunity for us because we have a great commitment to invest and grow our local teams.”
Focusing on the heavy catastrophes of the last few years, Tony Gallagher, chief executive officer, Pacific region, Guy Carpenter, said, “With the current loss activity, I think our clients are looking more than ever toward the reinsurance market and Guy Carpenter for solutions and ideas toward the very hard questions around the changing catastrophe market.”
For full video coverage of the SIRC conference, including exclusive executive interviews, visit http://www.ambest.tv/sirc19.
Other people that appear in this episode:
Recent AM BestTV coverage from the SIRC conference includes:
AM BestTV covers exclusive AM Best and insurance industry information and reports, targeted topics and key developments in the insurance, reinsurance and related sectors daily. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View AM BestTV episodes at http://www.ambest.tv.
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KEYWORD: EUROPE UNITED STATES NORTH AMERICA NEW JERSEY
INDUSTRY KEYWORD: INSURANCE PROFESSIONAL SERVICES
SOURCE: AM Best
Copyright Business Wire 2019.
PUB: 11/04/2019 09:30 AM/DISC: 11/04/2019 09:30 AM