PwC Breakfast Briefing at the Reinsurance Rendez-vous 2011

 

Martin Sullivan, (Deputy Chairman of Willis Group and Chairman and CEO of Willis Global Solutions) presents 'Over capitalisation and soft markets: A brokers view'. 

In his keynote speech, he argues that reinsurers' total available capital may no longer be the only driver of reinsurance market softening or hardening. Previous hard markets have been driven by a reduction of industry capitalisation and short-term difficulty in rebuilding and accessing new capital. Today, these historic across-the-board hard market cycles are unlikely to be replicated, he said, due to advances in actuarial and natural catastrophe modelling techniques attracting longer-term capital market investors.