XXIX INTEREUROPEAN REINSURANCE MEETING

Reinsurance will de dearer in 2011

The catastrophes occurring so far this year are shaping the development of the reinsurance market in this difficult year 2011, as has bee in the past renewals of July 1st. Most industry observers see the Japanese tsunami as marking a turning point for reinsurers. The general view is that this and other disasters have had a dramatic effect on the risk map, and that a trend change is the likely result, particularly when we take into account that the hurricane season has yet to begin.

In this context, the market general tenor until the end of the year will be one of uncertainty,  especially with regard to negotiating coverage renewals, risks covered and coverage capacity.

The low rate of return on investment and the present market volatility have meant that the reinsurance market is acting with prudence, seeking an adequate technical result to cover the risks assumed. The requirements of Solvency II set a demanding target for the industry, though it can also be interpreted as a positive challenge, one that could lead to reinsurance becoming a cornerstone of sound capital management.

At the present time the outlook for reinsurance at the global level is relatively stable, thanks to the much better balance sheets and more agile risk management that reinsurers have achieved over recent months. However, the level of earnings is expected to fall, with few companies making their initial targets for 2011.

Reinsurers will be studying all these factors at the next INTER-EUROPEAN REINSURANCE MEETING, the 29th of the series. The topics under study will be the present state of the economy in Europe and the prospects moving forward; the impact for reinsurers of the realignments in the Spanish financial sector; and reinsurance volumes in this country. A panel of experts will analyse the most significant recent disasters and their impact on the industry. There will also be analyses of the rating obtained by the insurance sector, of stress tests, and of the stipulations of Solvency II. In short, the meeting will be general and specific analysis of the Spanish insurance market.

 

PROGRAMME 2011

Wednesday, 5 October

Gardens of the Intercontinetal Hotel
Pº de la Castellana, 49
Madrid 28046

19:30 h.    Registration of those attending
20:00 h.    Welcoming cocktail

Thursday, 6 Octubre

Hesperia Hotel Madrid
Paseo de la Castellana 57
Madrid 28046

         
09:30   PRESENTATION AND OPENING SESSION
             Susana Pérez. Manager of INESE, the insurance division of REED BUSINESS INFORMATION
             Alfonso Pérez Santos. Senior consultant EUROCONSULTING          
             
09:45  EUROPEAN ECONOMY: PRESENT STATUS AND OUTLOOK GOING FORWARS
                              
             1st PANEL

09:45  EUROPEAN ECONOMY: PRESENT STATUS AND OUTLOOK FORWARD. GLOBAL ECONOMIC CHANGES
            Alfredo Arahuetes. PHd in Economic and Business Science. Dean of the ICADE business school

1:30    HOW IS EUROPE ANALYZING THE SPANISH CURRENT ECONOMIC SITUATION? THE INSURANCE AND
            REINSURANCE MARKETS IN EUROPE
            Daniel Castillo. Member of the Executive Management Board of Gen Re

11:00   Discussion

11:15   Coffee Break

            2nd PANEL

11:45   REALIGNMENT OF BANKING IN SPAIN. NEW INSURANCE STRATEGIES AND THEIR RELEVANCE TO BANKS.
             CHANGES IN THE BANKING MARKET AND THEIR EFFECT OF THE INSURANCE INDUSTRY
             Enrique Gutiérrez. Partner of DELOITTE 

12:30  REINSURANCE IN SPAIN. REPORT PRESENTATION
            José Ramón Jócano. Subdirector General NACIONAL DE REASEGUROS

13:15  Discussion

13:30  1st session end      
      

Friday, 7th October 2011

Hesperia Hotel Madrid
Paseo de la Castellana 57
Madrid 28046

09:30  REINSURING CATASTROPHE RISKS. LESSONS AND CONSEQUENCES FROM THE CAT LOSSES OF
            2010 AND 2011

            1st PANEL

09:30  JAPAN LOSSES. MARKET INCIDENCE
            Satoshi Ohkuma. Deputy General manager TOKIO MARINE

09:50  LARGE CATASTROPHE RISKS AND THEIR IMPACT ON REINSURANCE
            Richard Posgate, CEO Aon Benfield EMEA

10:10 THE EFFECT OF CATASTROPHE LOSSES: A PERSPECTIVE FROM LLOYD'S
           Nigel Ralph. Executive Underwriting Performance. Perfomance Management Directorate. LLOYD’S

10:30 Discussion

11:00    Coffee Break

              2nd PANEL

11:30    SOLVENCY II AND CATASTROPHE RISKS IN SPAIN ACCORDING TO QIS5. CATASTROPHIC SCENARIOS AND
              BUSINESS LINES COVERED BY THE CONSORTIUM 
              Luis Pasquau. Financial Manager of the CONSORCIO DE COMPENSACIÓN DE SEGUROS

12:15  Discussion

12:30  REFLECTIONS ON THE SPANISH INSURANCE MARKET

           RATING AND SUPERVISORY AUTHORITY.  POINT OF VIEW  AFTER QIS5 RESULTS STRESS TESTS
           2nd PILLAR. REINSURANCE AS A TOOL TO TRANSFER RISK UNDER SOLVENCY II: SUPERVISORY
           AUTHORITY APROACH TO VALIDATE REINSURANCE AND NON ALLOWED TOOLS´ TECHNICAL
           FUNDAMENTALS

           Luis Bautista. Subdirector General de Inspección. DGSFP


13:15  SPANISH INSURANCE MARKET DISCUSSION PANEL

           Maite González. Directora España y Portugual MAPFRE RE

           Peter McClean. Director Insurance Financial Services Rating STANDARD&POOR’S

           Luis Bautista. Subdirector General de Inspección, DGSFP

14:00 CLOSING SESSION         

                                                                              Moderators of the Meeting:
                                                                              Alfonso Pérez Santos. Senior Parner EUROCONSULTING