Today the global reinsurance sector is at crossroads where it has to grapple with several challenges. The low investment yields are pushing down the bottom-line of the reinsurers further down. The industry cannot increase its pricing very drastically; the abundant capacity does not permit it to do so. The claims are continuously going up as the catastrophes continue with an alarming alacrity. Yet it must be said to the credit of global reinsurance industry that it has been performing well despite all odds.
It was in this background that 56th Rendezvous Septembre 2012 was held in Monte Carlo from 9th to 13th September this year. GIC Re which is a regular participant in the Rendezvous since 2001 was present at Monte Carlo this year too. Our delegation was headed by Mr. Ashok Kumar Roy, CMD and comprised of General Managers Mr. Sujay Banarji and Mr. P K Bhagat besides the author himself.
Our delegation held series of meetings with officials from several insurance/ reinsurance companies, brokers and consultants. These meetings provided an opportunity to renew our contacts and networking besides understanding the insurance market conditions.
For further information on this topic you may please visit the October 2012 issue of GIC Re NEWS hosted elsewhere on this site
Ranked 13thLargest Global Reinsurer Group(compiled by A M Best)