OLDWICK, N.J.--(BUSINESS WIRE)--In this AMBestTV episode from the recently held Les Rendez-Vous de Septembre (Rendez-Vous) conference in Monte Carlo, Monaco, reinsurance executives said investors, regulators, governments and other stakeholders increasingly want insight into climate-change risks. Click on http://www.ambest.com/v.asp?v=rvs5919 to view the entire program.
Climate change proved to be one of the bigger issues at this year’s conference.
“I think that one of the big challenges for the insurance industry is how to adapt to pressures from regulators, stakeholders, consumers and investors on issues related to climate change,” said Carlos Wong-Fupuy, senior director, AM Best. “Additionally, companies that may be highly exposed to investments on the underwriting side with extensive carbon-related assets, at some point given this pressure from regulators or other stakeholders, will have to divest from them.”
Franz Hahn, chief executive officer, Peak Re, believes the industry needs to engage in less talk and more action.
“There is not enough being done. The industry needs to engage with governments and universities, since it is a matter of public and private discussions. Everyone is talking about it, but we need to find more solutions,” he said.
Other people that appear in this episode:
- Robert DeRose, senior director, AM Best;
- David Priebe, vice chairman, Guy Carpenter & Company;
- Albert Benchimol, chief executive officer, Axis Capital Holdings, Ltd;
- Bill Churney, president, AIR Worldwide;
- Cihan Biyikoglu, executive vice president, products, Risk Management Solutions; and
- Simon Konsta, senior partner, chairman, global management board, Clyde & Co.
For full video coverage of the Rendez-Vous conference, including exclusive executive interviews, visit http://www.ambest.tv/rvs19.
Recent AMBestTV episodes include:
- IFRS 17 and LIBOR Among Key Issues Facing Canada Market, Say AM Best Analysts: Anthony McSwieney, senior financial analyst, and Daniel Heitlinger, financial analyst, both of AM Best, said in a recent market segment report, key issues facing Canada’s insurers include regulatory shifts and persistent weather-related losses: http://www.ambest.com/v.asp?v=mbcanada919.
- Reinsurers Optimistic and Evolving, Say AM Best Directors: Senior Director Carlos Wong-Fupuy, Managing Director, Analytics – EMEA, Greg Carter, and Senior Director Bob DeRose, all of AM Best, say optimism prevails across the reinsurance industry that pricing will improve as access to capital evolves: http://www.ambest.com/v.asp?v=ambpanel919.
- ‘A Very Different Market Now,’ Say (Re)Insurance Industry Professionals: At Rendez-Vous reinsurers and related professionals say the reinsurance market is evolving as companies follow a broader, more diversified path: http://www.ambest.com/v.asp?v=rvswrap3919.
- ‘The Future Looks Bright,’ Say (Re)Insurance Industry Executives: Attendees at Rendez-Vous say the reinsurance market has stabilized after a difficult period marked by declining profitability, lower return-on-equity and significant natural catastrophes: http://www.ambest.com/v.asp?v=rvswrap2919.
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