Monte Carlo RVS 2023: Maintaining Momentum
Rendez-Vous de Septembre, the annual gathering of the reinsurance market has been taking place since the late fifties and while nerves were jangling, they were certainly less frayed than a year ago. Then, tensions were high as a number of circumstances combined to bring about a challenging hard market which left many cedants reeling.
Fast forward to this year and the mood had changed considerably, one in which technical considerations of risk appetite and price adequacy were very much front of mind as reinsurers sent out the message that, in the run-up to the 2024 1.1 reinsurance renewals, they are determined to maintain the hard-won ground they felt they had justifiably secured at the beginning of the year.
That a much calmer Rendez-Vous was enjoyed by all can be attributed, in part, to the expected limited impact in terms of insured losses from Hurricane Idalia, one of the strongest storms on record to approach Florida.
Despite the change in tone there can be little doubt the main topic for this year’s gathering was as last year: property catastrophe. The annual Rendez-Vous began with a call to the market to work to ensure that natural catastrophe risks remain insurable.
Our report this year ‘Monte Carlos RVS 2023: Maintaining Momentum’ features topics that created the most excitement during the Rendez-Vous. Content includes interviews and contributions from key industry players at Swiss Re, SiriusPoint, Aon Reinsurance Solutions, Guy Carpenter, SCOR and Munich Re.