A.M. BestTV: Competition, Consolidation, Relevancy Shaping Insurance Market

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November 18, 2016 2:54 PM EST

OLDWICK, N.J.--(BUSINESS WIRE)-- In this A.M.BestTV episode, speakers at A.M. Best's 2016 Insurance Market Briefing - Europe & Methodology Review Seminar in London outlined a range of market forces driving today's insurance and reinsurance markets in Europe and the Middle East. Click on http://www.ambest.com/v.asp?v=imbe1116 to view the entire program.

“It's an opportunity for A.M. Best to give a very high-level of overview of the rating activity that it has seen during the past year,” said Nick Charteris-Black, managing director, market development, EMEA, A.M. Best. “It is also an opportunity for A.M. Best to showcase its market research and full leadership. Today’s sessions covered a number of reports that A.M. Best has issued throughout the year.”

A.M. Best Chief Rating Officer Stefan Holzberger took part in a panel exploring the reinsurance industry, and spoke about why A.M. Best has maintained a negative outlook on the sector.

“Technical profitability has not been half bad over the last four out of five years,” said Holzberger. “However, the negative outlook is driven by A.M. Best’s performance expectations on a going-forward basis, which really is not in line with A.M. Best’s expectations at these rating levels.”

The keynote speaker, Andrew Kendrick, senior vice president, Chubb Group and regional president, Europe, shared his observations regarding the insurance market in Europe. Kendrick said that he believes: (1) the industry cannot expect market conditions to get any easier; (2) the industry should expect and be ready for more industry consolidations; and (3) insurers must work harder to stay relevant.

Other people that appear in this episode:

  • Mahesh Mistry, director, analytics, A.M. Best;
  • Catherine Thomas, senior director, analytics, A.M. Best;
  • Greg Carter, managing director, analytics, EMEA, A.M. Best;
  • Carlos Wong-Fupuy, senior director, A.M. Best;
  • Matt Fairfield, chief executive officer, Exin Group; and
  • Des Potter, managing director, GC Securities.

Visit http://www.ambest.tv for full coverage and exclusive interviews with key executives at the seminar.

Recent episodes of A.M.BestTV include:

  • In Customers' Eyes, Insurers Compete With All Industries, Says AIA Macau’s CEO: Chris Ma, chief executive officer, AIA Macau, said insurers' services are judged against that of hotels and other businesses, which is forcing insurers to improve their interactions with customers or lose relevancy: http://www.ambest.com/v.asp?v=ma1016nc.
  • Expanding Drone Use Calls for New Coverages, Possible Discounts: New rules on drone operations and the widening range of drone-related tasks means that drone operators should consider new types of coverage and pursue discounts on some existing coverages: http://www.ambest.com/v.asp?v=drone1116.
  • Physician-Owned Insurers Buffeted by Market, Regulatory Forces: New rules that tie doctors' reimbursements to patient outcomes and other standards, along with ongoing U.S. health consolidation, are forcing physician-owned insurers to examine new ways to cover larger risks:

    http://www.ambest.com/v.asp?v=piaa1116.

  • Asean Insurance Council Secretary General Previews Meeting: Evelina Pietruschka, secretary general of the ASEAN Insurance Council, outlines discussions set for this month in Yogyakarta, Indonesia, as members of the Southeast Asia insurance community move closer to integrating markets: http://www.ambest.com/v.asp?v=asean1116.

A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View A.M.BestTV episodes at http://www.ambest.tv.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2016 by A.M. Best Company, Inc. and/or its subsidiaries. ALL RIGHTS RESERVED.

A.M. Best
Lee McDonald
Group Vice President, Publication and News Services
+1 908 439 2200, ext. 5561
[email protected]

Source: A.M. Best


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