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Abir: Bermuda re/insurers have pivotal role in capacity crunch

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Monte Carlo: site of Reinsurance Rendezvous again for the first time, post pandemic

Bermuda has an important presence at the 64th edition of Rendez-Vous de Septembre in Monte Carlo this week, the first opportunity for the world’s major insurers and reinsurers to gather en masse in a familiar setting with other market players, since prior to the pandemic.

Delegates typically use the occasion of “Reinsurance Rendezvous” for an exhaustive round of business meetings.

Apart from Bermuda market participants from re/insurers, brokers and several law firms, also on hand are representatives from the Association of Bermuda Insurers and Reinsurers.

Abir’s president and chief executive, John Huff, commented to The Royal Gazette: “Yes, the Bermuda market has a significant presence in Monte Carlo.

“Bermuda capital and capacity are particularly at a premium in this hardening market.

“Bermuda talent and innovation will mean the island’s largest economic sector will play a pivotal role in helping to manage the current global natural catastrophe capacity crunch.”

Mr Huff said among the significant issues inherent in popular discussions this week for the 2800 registered participants are climate, cyber and casualty markets.

“Inflation, economic recession-risk conditions and geopolitical tensions make this a different Monte Carlo from the last in-person meeting in 2019,” he said.

“And the natural catastrophe modelling challenges of capturing risks means proprietary views of models will be a significant differentiator for Bermuda’s leading insurers and reinsurers. That is a positive for Bermuda’s talent-rich market.”

John Huff, president and chief executive of the Association of Bermuda Insurers and Reinsurers (File photograph)

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Published September 14, 2022 at 8:09 am (Updated September 14, 2022 at 8:09 am)

Abir: Bermuda re/insurers have pivotal role in capacity crunch

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