Monte Carlo Rendez-Vous Report 2022: Sailing Into Challenging Headwinds
After a two-year physical hiatus, 2022 saw the physical return of the Rendez-vous de Septembre from Monte Carlo, with a strong turnout at the reinsurance sector’s largest annual gathering. Much has happened since the last in-person conference in 2019.
The past three years have seen numerous cataclysmic events disrupt the economy from the Covid-19 pandemic, unprecedented and catastrophic natural disasters, supply chain issues, extreme inflation, rising interest rates, and the Ukraine war. With some major economies potentially heading for recession and the hardening market we are seeing, there was much to discuss in Monte Carlo.
Rating agency Standard & Poor’s set the tone with its Global Reinsurance Sector Outlook ahead of the event, underlining that its view of the sector remains negative and that reinsurers will continue to struggle to earn sustainably in excess of their cost of capital due to potential heightened natural catastrophe losses, capital market volatility, increasing cost of capital, and high inflation in 2022 and 2023.
All doom and gloom, then? Certainly not. Download our report to find out where the pockets of optimism and growth can be found.
Our report on this year´s Rendezvous rounds up the main stories that generated the most buzz. With exclusive content based on interviews with key industry players and contributions from Everest Re.