PwC hosted over 400 reinsurance executives across three events at the annual Rendez-Vous de Septembre (RVS) in Monte Carlo.<\/p>\n
![\"\"](\"https:\/\/149448277.v2.pressablecdn.com\/wp-content\/uploads\/2024\/09\/matt-britten-pwc-monte-carlo.jpg\")
The main takeaway from these meets was the pivotal role played by Bermuda in driving the future of reinsurance as the region sees an increased level of activity and interest in ILS casualty space, says PwC\u2019s Partner, Insurance, Matt Britten.<\/p>\n
Britten continued: “During the year we have seen a couple of legacy deals executed with ILS players providing a solution to trapped capital.<\/p>\n
“At the same time, the Bermuda market has also seen an increased level of activity and interest in ILS casualty space, which I believe provides legacy acquirers with the potential opportunity to provide solutions\u2013upfront solutions would probably be of most interest, to help support the development and growth of this ILS casualty space.”<\/p>\n
Other key themes at this year’s RVS included the ongoing hard market, improved resiliency of reinsurers, AI and concerns around increasing climate-related risks.<\/p>\n
New PwC analysis states that despite a turbulent 12 months, recent deal activity suggests the market for legacy transactions remains strong.<\/a><\/p>\n The North American market particularly has recovered after a quiet 2023, in line with early predictions in PwC\u2019s March 2024 Global Run-Off Survey. The 13 North American deals involving over $3 billion of liabilities were completed in the first eight months of 2024, exceeding the total number of deals announced in 2023.<\/p>\n Britten added, “Our participation in the Rendez-Vous de Septembre is a crucial opportunity to engage with global leaders on the evolving landscape of the reinsurance industry. As we navigate an era marked by increasing climate-related risks and a heightened focus on digital transformation, it\u2019s clear that innovation and resilience are more critical than ever.<\/p>\n “The discussions in Monte Carlo around harnessing advanced analytics and artificial intelligence to better predict and mitigate emerging risks have been particularly insightful, and further reinforce Bermuda\u2019s pivotal role as a hub for addressing these global challenges and driving the future of reinsurance.”<\/p>\n This year, PwC hosted a new session on AI and its potential impact on reinsurers, with research finding that 70% of reinsurers\u2019 CEOs believe that AI is going to fundamentally transform business.<\/p>\n Data acquisition, connecting across the value chain, optimising and automating processes and decisions, and driving insight and assisted decision-making, were marked as the four areas where PwC AI specialists see opportunities for the reinsurance market participants.<\/p>\n The post Bermuda emerges as key theme for RVS’24 at PwC’s events<\/a> appeared first on ReinsuranceNe.ws<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" PwC hosted over 400 reinsurance executives across three events at the annual Rendez-Vous de Septembre (RVS) in Monte Carlo. The<\/p>\n","protected":false},"author":1,"featured_media":546,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[],"_links":{"self":[{"href":"https:\/\/scott-carrington.com\/index.php\/wp-json\/wp\/v2\/posts\/547"}],"collection":[{"href":"https:\/\/scott-carrington.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/scott-carrington.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/scott-carrington.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/scott-carrington.com\/index.php\/wp-json\/wp\/v2\/comments?post=547"}],"version-history":[{"count":1,"href":"https:\/\/scott-carrington.com\/index.php\/wp-json\/wp\/v2\/posts\/547\/revisions"}],"predecessor-version":[{"id":548,"href":"https:\/\/scott-carrington.com\/index.php\/wp-json\/wp\/v2\/posts\/547\/revisions\/548"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/scott-carrington.com\/index.php\/wp-json\/wp\/v2\/media\/546"}],"wp:attachment":[{"href":"https:\/\/scott-carrington.com\/index.php\/wp-json\/wp\/v2\/media?parent=547"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/scott-carrington.com\/index.php\/wp-json\/wp\/v2\/categories?post=547"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/scott-carrington.com\/index.php\/wp-json\/wp\/v2\/tags?post=547"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}