Reinsurance Market Trends and Perspectives: Reinsurance in the Age of Black Swans

This PowerPoint report, presented by Robert Hartwig, president of the Insurance Information Institute, at the Reinsurance Association of America Underwriting Seminar, analyzes reinsurance market trends and conditions. A section on catastrophe loss developments and trends notes that record global disasters in 2011 and 2010 are rewriting insurance history and pressuring reinsurance markets, discussing whether the record losses have erased enough capacity to turn markets. A further section on reinsurance market conditions includes charts highlighting U.S. reinsurance and Bermuda market historical financial data, such as significant market losses. The presentation includes sections summarizing property/casualty financial performance and factors contributing to the underwriting cycle. A section discussing the implications for insurance and risk management in this time of uncertainty, risk and fear notes the high number of “black swans,” or uncommon events.