15th & 16th May 2012
Grange Tower Bridge Hotel, London
Expertise and integrity are the core values ceding companies should seek in their reinsurance partners, Navigators chief executive, Stan Galanski, told the Insurance Day Summit London. Speaking during the chief executive panel, Galanski said his company had stopped doing business with an unnamed reinsurer he feared did not have the integrity he was looking for.
The rise and growth of microinsurance in developing parts of the world can play a central role in the empowerment of women, according to Mark Byrne, founder and chairman of investment vehicle Haverford.
Torus chief executive, Clive Tobin, used the Insurance Day Summit London platform to issue a clear challenge to the catastrophe-modelling community to produce a model that can actually predict losses accurately. During a session discussing the impact of last year’s catastrophe claims, Tobin questioned the credibility of models that fail to produce any meaningful forecast [...]
Balance-sheet strength will become a major driver of differentiated pricing across the European insurance market in the coming months as the economic turmoil enveloping the continent continues to take its toll. The continuing economic uncertainty that prevails across Europe has seen risk managers increasingly take insurers’ balance-sheet strength into consideration when looking to buy coverage, [...]
Demand for reinsurance cover in non-peak zones is likely to increase as economic growth sends insured values soaring, Hannover Re’s chairman, Ulrich Wallin, told today’s Insurance Day Summit London. And while Wallin said it is “worth the effort” to examine ways to continue to write non-peak business even after the experience of the last two [...]
The skill-set of reinsurance underwriters needs to evolve with the re-injection of common sense required for a sector that has become too reliant on models. That was the consensus of a collection of market-leading chief executives gathered for the Insurance Day Summit London.
China’s working-age population will start to decline within the next three years, exerting strong pressure on the country’s social security system while also presenting insurers in the country with the opportunity to generate new revenue streams, according to a Swiss Re white paper.
A three month delay on the timing of the Omnibus II vote, which is the next significant milestone in the Solvency II introductory process, looks likely to lead to further uncertainty over the reliability of future timelines associated with the new European regulatory regime.
Global insurers annual spend on IT will hit a massive $140.6bn this year, with the sector now predicted to spend more on new initiatives than either banks or investment firms. An explosion in IT investment among insurers in Latin America, albeit from a low base, masks benign growth in Europe, but nevertheless contributes to a [...]
Allianz has been recognised as being one of the best companies for female employees to work for in Australia. For the fourth year running, the German insurer has been handed the highly-sought after citation of an employer of choice for women by the equal opportunity for women agency (EOWA).
Insurance regulation will not take a back seat to the oversight of deposit-taking financial institutions under the sector’s new supervisory regime, according to Mark Hoban MP, who will deliver a keynote speech outlining the government’s plans for its Prudential Regulation Authority (PRA) at this year’s summit. The financial secretary to the treasury is a firm [...]
Lloyd’s chief executive, Richard Ward, Hannover Re’s Ulrich Wallin, UK politicians Mark Hoban and Jonathan Evans and industry rainmaker Robert Hiscox top the list of heads of industry participating in this year’s Insurance Day Summit London, which is officially launched today. More than 50 chief executive and senior management speakers from the London market and [...]
Results of a global study comparing reinsurance trading practices in the Lloyd’s, Bermuda and continental European markets will be exclusively unveiled and debated by industry chief executives during this year’s Insurance Day Summit London. Professor Paula Jarzabkowski, from the renowned Aston Business School, will present the findings from the latest phase of her ethnographic study [...]
Mark Hoban promised to support UK insurers in their attempt to capitalise on growth in emerging economies in an address to the Lloyd’s Old Library, during which he called on the industry not to lose sight of some of the long-term issues it faces. The financial secretary to the treasury, who is a keynote speaker [...]
State of Iowa insurance commissioner Susan Voss and the new chairman and chief executive of Willis Global, Steve Hearn are the latest industry figures to be added to this year’s Insurance Day Summit London speaker line-up. Former president of the National Association of Insurance Commissioners Voss and Hearn, who succeeded industry veteran Grahame Millwater in [...]
Hannover Re chief executive, Ulrich Wallin, will deliver a keynote speech on the second day of next year’s Insurance Day Summit London, it has been announced.
Financial secretary to the Treasury, Mark Hoban, will deliver a keynote speech at next year’s Insurance Day Summit London.
Next year’s Insurance Day Summit London will take place over May 15 and 16, it has been announced. Now in its seventh year, the summit is firmly established as the best platform for executive management to meet, network and do business, all brought to you by the insurance industry’s only daily newspaper, so mark the [...]
MORE effective marketing of Lloyd’s claim capabilities could result in the market sourcing more business from the US and help change negative policyholder perceptions about London’s skills in this area, a leading American insurance chief executive has claimed.
Speaking on the second day of the Insurance Day Summit, Stan Galanski, president and chief executive of specialty insurer, the Navigators Group told delegates that although the US view of the Lloyd’s market was much improved from 15 years ago, a survey of the insurer’s producers had revealed that over a quarter (26%) did not place business with the market because of how they perceived Lloyd’s handling of claims. A further 34% of the survey respondents said they would not place risks in the Lloyd’s market because they preferred to have “local representation”. Read More
THE INSURANCE INDUSTRY is now entering the next stage of the financial crisis with inflation and a hike in interest rates on the way, Scor Group chief executive and chairman, Denis Kessler told delegates at the Insurance Day Summit London.
Kessler warned that whichever means carriers selected to “manage this transition to the new economic and financial phase” would play a crucial part in determining their eventual long-term profitability. Read More
CLAIMS practitioners do not have too much to worry about over the impending introduction of Solvency II providing they have already adopted best practice.
While the European Union-wide legislation will significantly impact the way many elements of an insurance firm operate, those who deal with claims have been told not to worry too much, as long as they have already adopted best practice and are applying generally agreed to claims principles. Read More
EXPECTATIONS of further growth in the Swiss insurance market are unlikely to have a detrimental effect on the London market, but offshore jurisdictions have been warned they will “increasingly feel the breeze” of defections to Zurich and Geneva.
Heinz Eggenberger, president of the Insurance Institute of Switzerland, told the Insurance Day Summit London the Swiss market had grown by around 15% during the past 16 months.
Eggenberger said Switzerland had 250 licensed insurance entities as of May 15 this year, compared with 218 at the beginning of 2010. Read More
CONTINGENT capital will be available for London market insurers in the event of further catastrophe claims, but it is likely to be very costly.
Lloyd’s chief executive Richard Ward told this week’s Insurance Day Summit London that without rate increases, further natural catastrophe losses this year – particularly stemming from US hurricane claims – could dent insurers’ capital rather than just their earnings.
It was a message echoed in a later panel discussion by Matthew Fosh, the chief executive of Novae. Read More
FURTHER EVIDENCE has emerged of the escalating costs associated with implementing Solvency II, with almost a third of insurers expected to spend up to an additional half a million pounds each on ensuring compliance with the directive, according to an industry survey. Read More
STAN GALANSKI, president and chief executive of Navigators Group, will present a keynote speech outlining the US insurer’s view of Lloyd’s as a strategic platform at next month’s Insurance Day Summit London, it has been announced. Read More
FORMER National Association of Insurance Supervisors (NAIC) president, Alessandro Iuppa will join a number of industry experts debating the future of insurance regulation in the UK post-Financial Services Authority (FSA) at this year’s Insurance Day Summit London.
Three-times summit speaker, Iuppa, who has also served as Superintendent of Insurance for the State of Maine in the US and chair of the executive committee of the International Association of Insurance Supervisors, and is now Zurich’s senior policy advisor on global issues, will utilise his considerable international regulatory experience to examine how such changes will interplay with global initiatives. Read More
MORE THAN 50 chief executive and senior management speakers from the London market and further afield will debate the major issues impacting the insurance industry at the Insurance Day Summit London in May.
Lloyd’s chief executive, Richard Ward, Scor chairman and chief executive, Denis Kessler, UK government and business ambassador and broking stalwart, Sir David Brewer and Oil Insurance president and chief executive, Robert Stauffer are just some of the many headline names that have been confirmed as participating in this year’s programme. Read More
SUCCESSFUL INTERPLAY BETWEEN the two new bodies that will replace the Financial Services Authority (FSA) in the UK will be crucial if the insurance sector’s new supervisory regime is to work effectively.
HM Treasury’s latest consultation on plans for the FSA’s successor entity, which will see the creation of the Prudential Regulatory Authority (PRA) and the Financial Conduct Authority (FCA) offers a blueprint of how the new regulatory framework will operate, at a relatively high level at least. Read More
SPECIAL PLENARY SESSIONS outlining the implications for insurers and reinsurers following last week’s Japanese earthquake and subsequent tsunami have been added to this year’s Insurance Day Summit London and Bermuda programmes.
UK delegates will be able to hear about the latest response by the Lloyd’s and company markets to the catastrophe, which current loss estimates predict could eventually reach £22bn, on May 17 and 18. Read More
FORMER SWISS RE head of Europe, will become the president of the reinsurer’s new holding company, Insurance Day has learned.
In a newly created role, Albers will support the board of directors in establishing the new structure which will see Swiss Re Corporate Solutions and its acquisitive life and health vehicle, Admin Re turned into separate legal entities from Swiss Re’s reinsurance business. Read More
ENERGY LIABILITY coverage following last year’s Deepwater Horizon loss, the potential threat that Switzerland poses to London and the market’s own process reform challenges will head up the agenda on the second day of this year’s Insurance Day Summit London. Read More
CHAIRMAN AND chief executive of French reinsurance giant, Denis Kessler is the latest big name to be added to this year’s Insurance Day Summit London speaker line-up. Read More
CHAIRMAN AND chief executive of Aon Risk Solutions, Steve McGill is the latest big name to be added to this year’s Insurance Day Summit London speaker line-up. Read More
NEWLY-APPOINTED UK Business Ambassador, Sir David Brewer CMG, Allianz management board member, Clement Booth and Aon Limited chief executive, Robert Brown are the latest names to be added to this year’s Insurance Day Summit London speaker line-up. Read More
NEXT year’s Insurance Day Summit London will take place over May 17 and 18, it has been announced. Read More
