The October 2009 issue of Reactions has now been published. Click on the headlines below to view an article.
The cover story is an exclusive interview with Peter Zaffino, CEO of reinsurance broker Guy Carpenter, who tells us his firm is targeting aggressive growth in Europe. Elsewhere we look at AIG one year on from near collapse, review all the action from the Monte Carlo Rendez-Vous, ask how the global economic crisis will affect takaful business and ask what is likely to happen at the Janauary 1 renewals in a virtual roundtable.
Not done there, we also have a special European focus looking at the continent’s casualty markets, Europe’s biggest cedants and the German insurance market.
COVER STORY
INTERVIEW: The world according to Guy Carp
Anyone who thinks Guy Carpenter is happy to be left in the shade following Aon buying Benfield had better think again. Since taking over as CEO last year, Peter Zaffino has knocked the firm into shape, bought US broker Collins and is now targeting aggressive growth in Europe.
FEATURES
AIG down, but not out
AIG has taken a beating in the past year but has not been knocked out. Reactions looks back at the year and asks AIG executives, shareholders and analysts whether it can get back on its feet.
Monte Carlo round-up: A good place to gossip
Although more low key than previous years, there was still much to chat about at this year’s Monte Carlo Rendez-Vous.
Virtual roundtable: Pre-renewal tension
In the run-up to the January 1 2010 reinsurance renewals, Reactions, in association with Towers Perrin, asks a panel of brokers and underwriters about the state of the market.
Takaful’s big break
Over the past several years, demand for Shariah-compliant insurance products has surged. The recent financial crisis is likely to give the takaful market a helping hand.
SPECIAL REPORT: EUROPE
European liability insurers braced for claims
D&O and E&O insurers in Europe expect to fare better than their American counterparts in the financial crisis. But the threat of increasing claims still looms.
Not enough to go around in Germany
A fragmented market, falling motor premiums and low interest rates are causing concerns for insurers in Germany.
European Cedant Rankings: Reinsurance buying patterns less affected by the financial crisis than expected
AM Best analyses how the top European cedants have changed in the past year.
REPORTS
Middle East conference round-up: Keeping a growing market on track
Growth prospects of the Middle Eastern reinsurance market, the need to attract top talent and regulatory challenges were just some of the topics discussed at the Reactions Middle East Reinsurance Conference.
Watsa and Barnard explain Odyssey deal
Odyssey Re’s time as a public company has served its purpose and the time is right for the reinsurer to be taken private again, according to Prem Watsa, CEO of Fairfax Financial Holdings, and Andy Barnard, president and CEO of Odyssey Re.
Leaving it late to raise objections over Solvency II
Once Solvency II finally passed from a contentious political process that was defined by bitter wrangling, many felt its implementation would become smoother. But some insurers have just realised how much the new directive will cost.
REGULARS
Editor’s remarks: A low-key affair in Monte Carlo
The mood was muted at this year’s Monte Carlo Rendez-Vous – the usually glamorous curtain raiser to European reinsurance renewal discussions.
Solvency II could be next 9/11: Ferma president
Things will get worse before they get better, the president of the European risk management association Ferma says in this op-ed piece for Reactions' View From The Top Series
Legal analysis: The development of the new pan-European regulatory framework
Following the publication of the Larosière report in September, the European Commission published further details on the proposed new legal framework that will govern the supervision and regulation of financial services in the European Union.
RISKbitz: Broker kickbacks to be made legal again shock
Impromptu street parties broke out in the world’s financial centres as insurance brokers heard that they will soon be allowed to reinstate contingent commissions.
RISKbitz: Ireland to be new Bermuda
An unexpected result of climate change in the US is that Ireland is set to become the new Bermuda, according to scientists. Rising temperatures in Washington means that Ireland is becoming more hospitable – while Bermuda could eventually become unhabitable.
RISKbitz: Baden-Baden factoids
Little-known tidbits about the German spa town where reinsurers and their clients hang out each October.