Welcome to the Reinsurance Summit 2009
The current unprecedented credit crisis, high stock market volatility, and uncertain market conditions are having a strong impact on the reinsurance industry. On the one hand, risk-taking has been returned to its proper place, which benefits the industry. On the other hand, reinsurers are suffering as well, both from the negative stock market climate and from individual hits that companies have endured due to subprime exposure.
The current and expected near-time reinsurance market environment seems to offer significant opportunities. A three years period of market softening has come to a halt. Even though the financial and economic crisis has not yet produced a sharp turnaround, rates, terms and conditions are stabilizing and, on average, show modest signs of improvements.
The Reinsurance Summit 2009 is designed to bring together decision makers from reinsurers and related industries, such as primary companies, brokers and large corporate customers, to evaluate and discuss perspectives in the present situation, allowing participants to develop effective strategies to master the challenges ahead.
I look forward to welcoming you to the Summit.
Herbert Fromme
Insurance Correspondent
Financial Times Deutschland