Welcome to Baden-Baden Today
The world is slowly returning to some semblance of normality, and the fact that the Baden-Baden Reinsurance Meeting is going ahead in a physical form this year is a welcome early indication of that.
There will be big differences, however. COVID-19-related restrictions and safety measures are in force, while testing and proof of vaccination will be required for some events. It will be a much smaller event this year—but events will happen, and executives will meet face to face.
That is a welcome step forward. Around the meeting in Germany, as negotiations around the renewals season gather pace, many more events, debates and discussions will continue to take place in a virtual form.
The timing of the physical meeting in Baden-Baden acts as a focus for these—an important mark in the calendar.
For this year’s edition of Baden-Baden Today, we reflect this blended approach the industry is now using to conduct business.
We have done many video interviews during the week before Baden-Baden. We will also report on the press conferences and events happening around the conference and speak to individuals who are attending in person.
This allows us, as ever, to provide in-depth analysis of industry news and opinion, based on our speaking to the most senior leaders in the industry—asking the challenging questions and delivering the answers.
For the first time, this year the publication is truly multimedia. Almost all of our exclusive interviews and panel discussions are available in these pages for you to watch and listen to—in addition to reading our reporting on them.
We hope you find the content in these pages useful and informative—it may even give you an edge on the competition.
Wyn Jenkins, managing editor, Intelligent Insurer
A sneak preview: more exclusive content and interviews inside
ESG credentials to be requested in renewals discussions: Aon
Discussions between buyers and reinsurers in this renewal are complex, and ESG considerations are being pushed to the fore, says Mike Van Slooten of Aon’s Reinsurance Solutions.
Information detailing the environmental, social, and corporate governance (ESG) credentials of both cedants and reinsurers could be requested as part of these renewals negotiations for the first time, as both parties seek more detail on the underlying risk and their counterparties.
That is according to Mike Van Slooten, head of business intelligence for Aon’s Reinsurance Solutions division, speaking to Intelligent Insurer’s 1.1 Club ahead of this year’s Baden-Baden reinsurance conference.
He believes this renewal will be a complex negotiation anyway, as buyers and sellers grapple with so many pieces of what is an “increasingly complex jigsaw”. ESG considerations make matters even more complicated.
“ESG factors will be a topic for both sides and I anticipate some mutual disclosure around the ESG credentials of cedants and reinsurers,” Van Slooten said.
“A lot of information is exchanged anyway through the renewal process—cedants provide detailed packs around their performance. This will be one more thing to disclose.”
He explained that reinsurers are under pressure from shareholders to review and get better visibility on the underlying risks, and that they are seeking leadership on this issue.
A sneak preview: more exclusive content and interviews inside
UnipolRe empowers carriers with telematics offering
UnipolRe has developed a new offering designed to enable its clients to roll out cutting-edge telematics technology.
RMS: modelling in an uncertain climate
As increasing climate-related losses and the role of secondary perils take centre-stage at Baden-Baden, the demands on cat modellers are changing. But it’s not just their role that’s evolving.
A sneak preview: more exclusive content and interviews inside
Flood Re calls for adaptation focus ahead of COP26
As climate change drives increasingly frequent severe weather events, it’s a reminder that we must make real progress quickly by learning to adapt and build resilience, says Andy Bord of Flood Re.
Over the past few months, we’ve seen significant flash flooding in London, devastating foods across Belgium and Germany and extreme heat in Canada.
These extreme weather events are becoming more severe and more frequent, and it’s vital we understand how to adapt, said Andy Bord, chief executive officer of Flood Re, a joint initiative between the UK government and insurers.
“I don’t think there’s enough attention on adaptation at the moment. Those acts of climate change are already in the system, it’s essential we understand how to adapt,” said Bord.
“From Flood Re’s perspective that’s how to adapt homes to make them more resilient against flooding, and planning to make sure that we’re not making the situation worse and that we’re building in the right places in the right way, making the UK housing stock more resilient rather than less resilient to flooding in the future.”
