In this article in Global Reinsurance, Vicky Carter, Chairman, Global Capital Solutions, International, addresses (re)insurance market conditions, which she describes as “the most exciting market we’ve seen for years and years—probably in my career.”
“We’re in a far more volatile world now, and the risk landscape is permanently in flux,” Vicky continued. “There are so many challenges in the macroeconomic environment, climate change, financial markets, and, of course, the Russia-Ukraine conflict, to name but a few.”
She goes on to describe how she thinks many insurers are adjusting their books to better face this changeable risk environment.
“Secondary perils, such as wildfire and convective storms, are significant loss drivers, which are happening annually, globally. Look at the extreme and varied weather we’ve seen this year. In Europe, there have been significant wildfires in Greece, as well as those happening in the US and Canada on a regular basis,” Vicky said.
“Insured losses are being compounded by inflation and increased value concentration. Climate change impacts are expected to accelerate particularly if the Earth’s temperature increases beyond 1.5 degree centigrade.”
Click image below for full article. Please note: the Vicky Carter interview begins on page 10.
