Summary - Reinsurance - Leaders Practice Group

REINSURANCE LEADERS PRACTICE GROUP 4 MAR 2021 KINDLY SPONSORED BY:

REINSURANCE LEADERS PRACTICE GROUP 4 MAR 2021 KINDLY SPONSORED BY:

OUR GUEST SPEACKERS SEAN KEELY DAVID LAUNDERS PARTNER, FREEBORN & PETERS LLP GEOSPATIAL INSIGHT LTD TOM BUSH KEVIN PORTER COMMERCIAL LITIGATOR AND GEOSPATIAL INSIGHT LTD ARBITRATOR, FREEBORN & PETERS LLP JOE MCCULLOUGH LITIGATION PRACTICE GROUP PARTNER, FREEBORN & PETERS LLP

BREAKOUT ROOMS QUESTION 1 The last few years has seen a series of global catastrophe losses, from windstorm to flood and the latest being COVID-19. As individual companies and as a reinsurance market, are we better placed to handle these – from assessment, ongoing management and payment? QUESTION 1 Which of today's losses has the potential to create tomorrow's legacy portfolio? QUESTION 1 How mature is the reinsurance market when it comes to embracing new tools and technologies which capture valuable data and how do you feel these can materially improve the way the Market operates and the response to our clients? KINDLY SPONSORED BY:

What are the main changes you've seen in the reinsurance market over the last few months? POLLING Simplification Continued rate hardening in Uncertainty of impact on certain classes KINDLY SPONSORED BY: reinsurance losses The rate increased dramatically COVID BI case Participants all building cases on Change of personnel Covid and aggregation Outstanding claims issues eg Tightening of terms Covid. Terms tightening Capital protection Willingness for change also Risk consolidation, capacity shift, related to future risk refocus on quality, risk- development aversion/capital protection More involvement with business being RITC to legacy providers

Do you feel that the reinsurance market is likely to be adversely affected by court ruling on the Covid BI claims? POLLING 22% 6% KINDLY SPONSORED BY: 0 25 50 72% 75

POLLING Have you seen/or been give preliminary notification of COVID claims? KINDLY SPONSORED BY: 53% 29% 18% 0 20 40 60

POLLING We are continually being given access to new data sources - are you seeing positive changes in the way your book KINDLY SPONSORED BY: operates? 19% 6% 44% 31% 0 10 20 30 40 50

POLLING What parts of the business are likely to benefit the most from these new data sources? KINDLY SPONSORED BY: 6% 38% 6% 44% 6% 0 10 20 30 40

POLLING Thinking about the next 3-6 months, what do you see are the likely challenges/opportunities in the reinsurance Market and/or with KINDLY SPONSORED BY: your book of business? Expand with confidence Rates stalling There are concerns about increasing coverage gaps - households not buying Uncertainty about coverage Sourcing good quality capacity with partners for the long-term New start-ups mispricing

VISIT OUR WEBSITE FOR UPCOMING EVENTS www.lmforums.com