PwC, S&P Global Reinsurance Conference

November 8, 2016

Amid a perfect storm of soft pricing, low investment yields and new industry disruptors, insurance industry leaders will offer their views on the factors re-defining the competitive landscape at the PwC – S&P Global Ratings Bermuda Reinsurance conference on Tuesday, November 8th.

This year’s conference, Bermuda’s leading industry event, is themed “Reflection, Realignment & Relevance” and takes place as reinsurers are challenged not only by a prolonged downturn, but also the impact of shifting customer expectations and margins threatened by alternative capital and new InsurTech entrants. There are more than 270 registered attendees at this year’s conference.

Insurance industry leaders and professionals, including many from the US and UK, will use the 11th edition of this annual forum to exchanges ideas on how to keep up with the pace of change and disruptions affecting the reinsurance market. While this has proven to be a daunting challenge, it is one that has come with potential opportunities, many of which will be highlighted at this year’s conference.

“Bermuda Reinsurance has been the island’s premier industry forum for more than a decade and we’re proud to continue to be a critical platform for discussing the key issues facing reinsurers,” said Arthur Wightman, PwC Bermuda Leader and regional Insurance and Markets Leader.

“While most reinsurers have embraced change to support incremental innovation, bigger breakthroughs are necessary in order to compete with the new technologies and business models that are disrupting the industry. Investment in products and technologies that sharpen the precision of risk selection and pricing but also improve the overall operations efficiency and effectiveness will be crucial for companies looking to differentiate themselves.”

The new market dynamics, recent M&A activity, and ‘softer for longer’ pricing environment will be the focus of this year’s View from the Top CEO Panel featuring:

  • Joseph P. Brandon, Executive Vice President, Alleghany Corp; Chairman, Transatlantic Holdings Inc.; and President, Alleghany Insurance Holdings LLC
  • Kean Driscoll, Chief Executive Officer, Validus Reinsurance Ltd.
  • Kevin O’Donnell, President and Chief Executive Officer, RenaissanceRe Holdings Ltd.

Additionally, Moritz Kraemer, Global Chief Ratings Officer for S&P Global Sovereign Ratings, will share his perspectives on Brexit and its ramifications for reinsurance, the UK, Europe, and the global economy.

The conference, being held at the Hamilton Princess, also features panels that discuss what the future may hold for alternative capital, mortgage reinsurance, and emerging opportunities in insuretech and blockchain.

A panel on the power and potential of promoting diversity in insurance, including the perspectives of a female CEO and a rising millennial in the industry highlights the unique insights the conference continues to deliver.

Bermuda Reinsurance Conference Nov 2016

“Reinsurers are facing a challenging environment that may ultimately prove to be transformative for the industry,” noted Ben Bubeck, Managing Director and Lead Analytical Manager, North America Financial Services Ratings.

“Reinsurance pricing declines may have slowed, but with no sign of a rebound, coupled with disappointing investment returns, reinsurers’ earnings sustainability may be tested. Additionally, while reinsurers are currently well-capitalized, competitive landscape changes necessitate analysis into what these companies are doing to manage risk and continue to add value to cedants and insureds by providing protection against new and evolving risks, which may include exploring further consolidation and capitalizing on new opportunities, such as mortgage reinsurance and within ILS.”

The full line-up of panels and speakers includes:

A View from the Top: Reinsurance CEO Perspectives

  • Moderator: Taoufik Gharib, Senior Director, S&P Global Ratings
  • Joseph P. Brandon, Executive Vice President, Alleghany Corp; Chairman, Transatlantic Holdings Inc.; and President, Alleghany Insurance Holdings LLC
  • Kean Driscoll, Chief Executive Officer, Validus Reinsurance Ltd.
  • Kevin O’Donnell, President and Chief Executive Officer, RenaissanceRe Holdings Ltd.

The Next Act: Reinsurance CFO Perspectives

  • Moderator: Matt Britten, Partner, Insurance, PwC Bermuda
  • Mario Bonaccorso, Executive Vice President and Chief Financial Officer, PartnerRe Ltd.
  • Jay S. Bullock, Executive Vice President and Chief Financial Officer, Argo Group International Holdings Ltd.
  • Jeffrey Sangster, Executive Vice President and Chief Financial Officer, Validus Holdings Ltd.

Silver Lining: Will Mortgage Reinsurance Prove to be the Industry Bright Spot?

  • Moderator: Kevin Ahern, Managing Director, S&P Global Ratings
  • JosephHissong, President, Essent Reinsurance Ltd.
  • Hardeep Manku, Director, S&P Global Ratings
  • Kevin Palmer, Senior Vice President Single –Family Credit Risk Transfer, Federal Home Loan Mortgage Corp. [Freddie Mac]
  • Andrew Rippert, Chief Executive Officer of Global Mortgage Group, Arch Capital Group Ltd.
  • Nicholas Sapirie, Director, Capital Markets Analytics, Federal National Mortgage Association [Fannie Mae]

Breaking Through: How Insurers Can Harness the Diversity Dividend

  • Moderator: Leslie Fenton, Managing Director, Corporate Finance, PwC US
  • Kathleen Faries, Head of Bermuda, Tokio Millennium Re AG
  • Talia Lucas Manager, Insurance & Reinsurance manager & strategic leader of the Gender Diversity Initiative, PwC Bermuda
  • Arthur Wightman, Territory Leader and regional Insurance and Markets Leader, PwC Bermuda

ILS/Alternative Capital: What May the Future Hold?

  • Moderator: Gary Martucci, Director, S&P Global Ratings
  • Dirk Lohmann, Chairman and Managing Partner, Secquaero Advisors Ltd.
  • Michael Millette, Managing Partner, Hudson Structured Capital Management Ltd.
  • Rick Pagnani, Chief Executive Officer, Mt. Logan Re Ltd.

Opportunities Await: How InsurTech is Reshaping Insurance

  • Moderator: Jamie Yoder, PwC Global Insurance Advisory practice Leader
  • Robert Bauer, Managing Director, Commercial Strategy and Innovation, American International Group Inc.
  • Brian Modesitt, Managing Director, Two Sigma Investments LP
  • Martha Notaras, Partner, XL Innovate, XL Group Ltd.
  • Kevin Shearan, Chief Information Officer, Chubb Ltd.

To view the agenda and other details see here.

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