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in Carrier Management

The Re/Insurance Industry is in a “State of Flux:” Willis Re’s Chairman

After 40 years in the industry Willis Re's Chairman, Paddy Jago, describes the last five as producing more changes than he's ever seen, putting it in "a state of flux." Reinsurance brokers now provide essential services, rather than acting only as intermediaries. Benign catastrophe activity and capital overcapacity, however, continue to have adverse effects - return on equity (ROE) is at an all-time low. Nonetheless he's optimistic, especially with the opportunities presented by the merger with Towers Watson, and the power of technology to analyze data, which could improve casualty risk assessment.

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