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AM BestTV at Rendez-Vous: ‘What a Difference a Year Makes,’ Say Analysts at AM Best Reinsurance Briefing

September 9, 2019

OLDWICK, N.J.--(BUSINESS WIRE)--Sep 9, 2019--

In this AM BestTV episode from the 2019 Les Rendez-Vous de Septembre (Rendez-Vous) conference in Monte Carlo, Monaco, AM Best analysts say that following the “doom and gloom” of the previous couple years, reinsurance pricing has improved and opportunities in the cyber market abound. Click on http://www.ambest.com/v.asp?v=rvswrap1919 to view the entire program.

The analysts spoke at AM Best’s annual Reinsurance Market Briefing, and said that despite some improvements, the fragile global economy remains a concern for reinsurers.

“Looking back over the course of the year, we have a less positive view on economic growth now than we did a year ago,” said Greg Carter, AM Best managing director, analytics. “The United States was growing very strongly, with signs of growth across Europe. But now I think you’ve seen a lot of that reverse, and the ongoing U.S.-China trade war is only going to dampen growth globally.”

“Last year it was all pretty much all doom and gloom. We had come through a bad year for catastrophes, and there really wasn’t much movement in pricing and terms and conditions,” said Robert DeRose, AM Best senior director. “We had no idea what January or the subsequent June 2019 would hold, but to our surprise, we saw some positive momentum in pricing.”

The panel also spoke about market opportunities, and said that while cyber remains a top area for growth, the majority of players have been cautious in approaching the segment.

“The modeling in this area is still very primitive,” said DeRose. “Those companies that are not approaching the market with some degree of caution could be burned quite badly if there were an event of material size.”

Other people that appear in this episode:

To access a copy of AM Best’s recent Best’s Market Segment Report on the global reinsurance industry, visit http://www3.ambest.com/bestweek/purchase.asp?record_code=277679.

For full video coverage of the Rendez-Vous conference, including exclusive executive interviews, visit http://www.ambest.tv/rvs19.

Recent AM BestTV episodes include:

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.

AM Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit www.ambest.com for more information.

Copyright © 2019 by A.M. Best Company, Inc.and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190909005752/en/

CONTACT: Lee McDonald

Group Vice President, Publication and News Services

+1 908 439 2200, ext. 5561

lee.mcdonald@ambest.com

KEYWORD: NEW JERSEY EUROPE UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: FINANCE BANKING PROFESSIONAL SERVICES INSURANCE

SOURCE: AM Best

Copyright Business Wire 2019.

PUB: 09/09/2019 11:58 AM/DISC: 09/09/2019 11:58 AM

http://www.businesswire.com/news/home/20190909005752/en

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