The President of LIOU took part in the annual reinsurance meeting in Baden-Baden

Every year, in the last week of October, one of the key events in the world of insurance, the International Conference of Reinsurers, takes place in Baden-Baden. This year, the event accredited more than 3 thousand participants, including a delegation from Ukraine. These are insurers, reinsurers, brokers, consultants and industry experts.

“The secured reinsurance will continue to grow. For cedents, it is attractive because of a wider range of risks” said Henning Ludolfs of Hannover Re.

The question of whether combining insurance and reinsurance operations in one global group was discussed at an open symposium on the first day of the meeting. Steve Arora, CEO of AXIS Re, reinsurance agent of AXIS Capital, said that the global composition of the company allowed AXIS to address the wider needs of a wider client base. “You can be a reinsurer and a competitor. It is important to have diversification, and it helps clients to have a re-insurer with dual opportunities” he said.

Pina Albo, general manager of the Hamilton Insurance Group, said that consolidation is on the agenda again: “We have seen all this before. In fact, the merger and acquisition cycle is the only cycle that has remained in business. Today, there are various factors of mergers and acquisitions, and there is a perceived need for enormous global follow-up. Low interest rates affect profitability and need for underwriting; plus Solvency II and equivalent regimes point to the need for greater diversification. All this makes sense on paper, but it does not always work in practice, because integration can be complicated. ”

According to Suzanne Kaske, Major Solutions Manager for EMEA at Swiss Re, insurers need to prepare for the digital business environment and look for new ways to manage outdated portfolios. German insurers have made huge efforts to prepare for future challenges in the digital future.

The League of Insurance Organizations of Ukraine at the Annual Meeting of Reinsurers in Baden-Baden was presented by the President of LIOU, who got acquainted with the world tendencies and held dozens of meetings with representatives of the world insurance and reinsurance industry.

Among the most urgent for the world insurance community this year were issues of globalization, natural and man-made disasters, cyber-risk, issues of further implementation of IT technologies, consumer rights protection, personnel issues of the industry and others were actively considered.

The annual reinsurance meeting in Baden-Baden is a key event in the world of reinsurance. Each year, several thousand delegates from different countries representing the largest international reinsurers, brokers and consultants gather at the meeting. The Baden-Baden format is an independent conference and meeting organized by brokers and reinsurers, bilateral meetings at several venues in the city from the morning until late in the evening. The involvement of reinsurers and brokers from all over the world makes this event unique and promising for business.

Recall that in 2005, at the initiative of the League of Insurance Organizations of Ukraine, for the first time in the framework of the International Conference of Reinsurers in Baden-Baden, the achievements of Ukraine as a whole and the Ukrainian insurance market in recent years have been presented. The evening of Ukrainian insurers, organized by LIOU, caused an unprecedented resonance among the world’s insurance elite. LIOU constantly takes part in international conferences and forums devoted to insurance issues. By maintaining close contact with the representative structures of the world insurance company, LIOU forms and promotes the development of a positive image of the national insurance market in the international arena.

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