Patrick Thiele Looks Back

Contributor: Patrick Thiele, CEO PartnerRe Ltd.
Date: 12/6/2010
Retiring CEO Patrick Thiele looks at how the reinsurance industry has come of age in the past decade
Tags: Non-specific, CEO commentary

Growing Life in a Saturated Market

Contributor: Esther Schütz, Team Leader Life Pricing & Solutions, PartnerRe
Date: 11/26/2010
A look at growth options when a market seems close to saturation point and external factors are limiting the potential to innovate and win new clients. Market experiences highlight important focus areas such as close industry involvement in regulation, the identification of gaps in cover and improving consumer trust in a product.
Tags: Life & Health, Non-specific

Social Inflation in the U.S.: What is it and Why is it a Concern?

Contributor: David Durbin, SVP, Risk & Research, PartnerRe U.S.; Paul Feldsher, SVP, Underwriting Practices, PartnerRe U.S.; Thomas Forsyth, EVP and General Counsel, PartnerRe U.S.
Date: 11/26/2010
PartnerRe shares its research on specific risk drivers impacting social inflation.
Tags: Non-specific, Casualty, U.S.

Cat Models “Get Real”

Contributor: Dr. Paul Della-Marta, Research, PartnerRe; Manuel Prechtl, Research, PartnerRe.
Date: 10/1/2010
Stochastic catastrophe models price business based on thousands of generated events, but how do we know those modeled events and losses are realistic? A model’s “internal consistency” – broad agreement between observation and mathematical simulation - is one of the essential checks. A good stochastic model will show internal consistency at all stages of the modeling process. In this article our modelers explain this important check of a model’s ultimate reliability, using examples from PartnerRe’s CatFocus® tropical cyclone model.
Tags: Non-specific, Catastrophe perils

Construction Defects – Covered or Not?

Contributor: Paul Feldsher, SVP Underwriting Practices, PartnerRe U.S.
Date: 10/1/2010
Recent Colorado legislation expands construction defect coverage. Re/insurers are asking – what are our liabilities now and will other states follow the same path?
Tags: Litigation, U.S.

The New Reality

Contributor: Patrick Thiele CEO, PartnerRe Ltd.
Date: 10/1/2010
CEO Patrick Thiele explains how the new economic reality that underpins our industry requires a shift in thinking away from cycle management to a longer term “reality” management and what re/insurers need to do to remain profitable in this low growth environment.
Tags: Non-specific, CEO commentary

A Deadly Cocktail of Drinks, Drugs & Stress

Contributor: Maeve Fleming, Life Client Partner U.K. & Ireland, PartnerRe; Stuart Johnson, Head of Life Underwriting & Claims U.K. & Ireland, PartnerRe.
Date: 7/1/2010
Actuarial risk profiles are based on general population mortality statistics and insured population claims experience. Medical underwriting identifies risks that are consistent with those risk profiles and thus delivers an appropriate and correctly priced risk portfolio – but, it can only do that if it is fully capturing all the material risk factors. Our research from the U.K. life protection market shows that lifestyle risks are a major risk factor for the under 40's, but that these risks are not adequately captured by medical underwriting. A similar study in the U.S identified a similar problem. We present the results of our study and propose improvements that would help to resolve this discrepancy.
Tags: Europe, Life & Health

One Year On

Contributor: Patrick Thiele
Date: 7/1/2010
Almost exactly a year after announcing its acquisition of PARIS RE, PartnerRe approaches the renewals season as a stronger, more secure reinsurance partner.
Tags: Non-specific, CEO commentary

Strengthening Credit Credentials

Contributor: Marcus Pollak, Head of Credit & Surety, PartnerRe
Date: 7/1/2010
Although the recent financial crisis initially hit credit insurance and reinsurance with a vengeance, economic stabilization, enhanced risk awareness and improved terms brought product demand and reinsurance capacity back in line by 2010. Here we look at some central considerations that will help to strengthen the credit re/insurance market, in particular by reducing the likelihood of volatile reinsurance capacity deployment.
Tags: Credit & Surety, Non-specific

Insurers of Last Resort: My Word is My Bond

Contributor: Brian Secrett, Chief Underwriting Officer, Catastrophe, PartnerRe; Laura Davis, Head of Catastrophe, Bermuda, PartnerRe
Date: 4/23/2010
An increasing amount of risk is being assumed by U.S. personal lines residual market bodies, particularly in coastal states. We look at TWIA and the uncertainties for re/insurers linked to the new funding structure following last year's legislative change.
Tags: Litigation, Property, Catastrophe perils, U.S.

Central America - Opportunity and Challenge

Contributor: Salvatore Orlando, Head of P&C Southern Europe & Latin America, PartnerRe; Rick Thomas, Head of Catastrophe Underwriting Zurich, PartnerRe
Date: 4/8/2010
As the direct market regionalizes and retentions increase, risk correlation, solvency regulations and catastrophe losses all pose a threat to the current status quo – we review the issues and beneficial role of reinsurance.
Tags: Non-specific, Property, Catastrophe perils, Pricing & models

Systemic Risk – What Risk?

Contributor: Patrick Thiele, President & CEO PartnerRe
Date: 4/8/2010
Why legislate for systemic risk in an industry that apparently has none? Patrick Thiele calls for intelligent regulation informed by the unique economics of the reinsurance industry.
Tags: Non-specific, Regulation, CEO commentary

A Stochastic Model for Longevity Risk

Contributor: Bridget Browne, Head Life Pricing & Solutions, PartnerRe; Juliette Duchassaing, Life Pricing Actuary, PartnerRe; Fabrice Suter, Life Pricing Actuary, PartnerRe
Date: 2/1/2010
A practical, robust model to assess mortality deviation and thus ensure adequate risk capital in line with solvency requirements
Tags: Life & Health, Non-specific, Regulation

Canadian Motor Claims Accelerate

Contributor: Angela Chung, Senior Underwriter P&C Canada, PartnerRe; Grace Lin, Chief P&C Pricing Actuary Canada, PartnerRe
Date: 2/1/2010
As we turn the corner into 2010, Ontario’s 1997 CAD $ 700,000 average reported large motor loss now stands at CAD $ 3.2 million; a four-fold increase over 11 years. Given such inflation and the absence of redistributory index-linked clauses, upward non-proportional reinsurance pricing adjustments are essential to avoid a future crash in capacity and healthy balance sheet for all parties.
Tags: Motor, U.S., Pricing & models

New Year – New Market

Contributor: Patrick Thiele President & CEO
Date: 2/1/2010
In a market of “profitable stagnation”, CEO Patrick Thiele looks at what the challenges will be for insurance and reinsurance industries.
Tags: Non-specific, CEO commentary