reliable innovative safe catastrophe reinsurance
Download
Skip this Video
Download Presentation
Reliable, Innovative, Safe, Catastrophe Reinsurance

Loading in 2 Seconds...

play fullscreen
1 / 15

Reliable, Innovative, Safe, Catastrophe Reinsurance - PowerPoint PPT Presentation


  • 79 Views
  • Uploaded on

Reliable, Innovative, Safe, Catastrophe Reinsurance. Brad Kading September 2009 CEI Out of the Storm. Association of Bermuda Insurers and Reinsurers . 24 Class 4 Companies Highly capitalized, distinct regulation $61 B GWP, $65 B Surplus (YE 2008)

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'Reliable, Innovative, Safe, Catastrophe Reinsurance' - salaam


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
reliable innovative safe catastrophe reinsurance

Reliable, Innovative, Safe, Catastrophe Reinsurance

Brad Kading

September 2009

CEI Out of the Storm

association of bermuda insurers and reinsurers
Association of Bermuda Insurers and Reinsurers
  • 24 Class 4 Companies
  • Highly capitalized, distinct regulation
  • $61 B GWP, $65 B Surplus (YE 2008)
  • Headquarters in Bermuda with principal operations in Bermuda, the US and Europe
  • Worldwide business enterprises
  • 1,800 employees in Bermuda; 15,000 US; 30,000 worldwide
bermuda market impact
Bermuda Market Impact
  • Largest property cat reinsurance market
    • Supplies 40% of the US and EU market
    • Largest cat reinsurer in the world: Renaissance Re
  • Highly capitalized, excellent claims payment history
  • Tested by the worst of Man (9/11) and Mother Nature (2004 and 2005 US hurricane season)
  • Regulated to tough standards:
    • Mandatory stress and scenario tests and explicit RBC cat charge
    • Regulatory MOU’s: NY and FL; UK and the IAIS
reinsurers track record
Reinsurers’ Track Record
  • Post Hurricane Andrew:
    • $500 M limits (5 times previous)
    • Securitizations
    • New capital/companies
    • Cat Models
    • Derivatives
    • CEA – record placement
  • Post 9/11:
    • New capital/companies
    • Hedge fund vehicles
    • ILW’s
    • Terrorism cover
  • Post Katrina:
    • New capital/companies
    • Sidecars
    • Derivatives reborn
  • Post Financial Crisis:
    • Financially strong, stable
    • Capacity maintained vs.:
      • Securitizations down
      • Cat Fund bonding impaired
hr 3424 brattle group cummins conclusions
HR 3424: Brattle Group/Cummins’ Conclusions

Enactment of the discriminatory reinsurance tax bill will:

Lead to the elimination of affiliated reinsurance for non US groups

Lead to a 20% reduction in overall US reinsurance market supply

Lead to a 1 to 2 % drop in supply of primary insurance

Lead to $10-$12 billion annual increase in US insurance costs

abir members
ABIR Members

ACE

Allied World

Argo Group

Ariel Re

Arch

Aspen

Assured Guaranty

Axis

Catlin

Endurance

Flagstone Re

Harbor Point

Hardy

Hiscox

Lancashire

Max Capital Group

Montpelier Re

Partner Re

Platinum Re

Renaissance Re

Torus

Validus Re

XL Capital

slide14
ABIR

Bradley Kading

President and Executive Director

[email protected]

Leila Madeiros

Vice President and Corporate Secretary

[email protected]

WWW.ABIR.BM

slide15
Bradley Kading

Association of Bermuda Insurers and Reinsurers

ad