Rendez-Vous : Insurance gets Monaco Glamour

Global Reinsurance editor Sarah Goddard says: "This year's Rendez-Vous is shaping up to be very interesting. The dislocation in the international reinsurance markets following the events of 11 September has led to some fundamental differences of opinion about the industry's direction and future.

Talk will be about: how rates in some classes did not recover as fast as had been expected; whether underwriters are finally showing some true discipline in their approach to the business; and the start-ups and failures in the wake of WTC. But most of all, those who were gathered in Monte Carlo last year will remember the surreal environment in which we watched the twin towers fall, and realised the industry - and the world - would never be the same again.

Delegates can keep up to date all through Rendez-Vous by watching Global Re TV

When it comes to glamour and insurance, Rendez-Vous is as good as it gets.

This is the event where insurers mingle with the rich and famous against a backdrop of glamorous hotels, expensive yachts, swanky casinos and beautiful people.

The tiny Principality of Monaco clings to the Alps between Nice and the Italian border and measures less than two square kilometres.

This haven of wealth and privilege has played host to the leading lights of the global reinsurance community since 1957 Rendez-Vous is not so much a conference, as an informal gathering of all those involved in the January renewals, including insurers, reinsurers, brokers and reinsurance consultants.

It provides a forum for reinsurers to discuss what markets they are likely to be concentrating on in the coming year and is a good sounding board for companies wanting to discuss new strategies.

The Baden Baden conference in Germany in October is a more formal follow-up to Monte Carlo where parties roll up their sleeves and start working on business for the renewals, with work often elating to specific contracts.

Both events are fairly informal and are set in and around the hotels and bars of both cities.

Baden Baden: the same but different

Insurance gets Monaco glamour

by Eloïse Haigh

When insurers, reinsurers and brokers converge on Monte Carlo in September, the inevitable thoughtful spirit will be in stark contrast to the light-heartedness of previous years.

Those who attended last year will be reminded of the 11 September tragedy, which they watched unfold on the second day of the Rendez- Vous.

The news spread around the glamorous bars and cafes of Monaco and all meetings were cancelled as delegates reeled from the shock that would overshadow the whole conference.

This means that while the Rendez-Vous event has historically been a relaxed forum for discussing upcoming reinsurance renewals, from this year onwards it is likely to be a more serious affair.

Despite the subdued atmosphere that may result, there is a wide range of crucial issues for companies to discuss and, hopefully, this year 's meetings will yield some positive results.

At last year 's Rendez-Vous, before 11 September, discussions centred on capacity shortages and company consolidations.

These are likely to figure prominently on many companies' agendas again this year - in fact they are more relevant than ever post-WTC.

The market has continued to harden, capacity has become scarcer and rates have risen.

Newcomers to the market will also be of interest as Bermuda continues to thrive as an insurance centre, and other players join both the London and global insurance markets.

Of course, the enormous change in the global reinsurance markets resulting from WTC will also be high on the agenda at this, the first Monte Carlo event since the attacks.

Hopefully this year 's Rendez-Vous will be as positive and productive as it ought to be, focusing on innovative strategies for global reinsurance and act- ing as a melting pot for new ideas and initiatives.

A more pensive Rendez-Vous this year Aon deputy chairman Max Taylor says: "I think that European flooding is going to be one of the big issues at this year 's Rendez-Vous. "Everyone will be talking about the reinsurance renewals and how they will affect the primary insurance market in the UK."

Programme of events
Saturday 7 September 2.30pm -6pm Sporting d 'Hiver,Place du Casino Registration -Registration facility is available between 9am and 6pm each day until Wednesday 11 September at 12.30pm.

Sunday 8 September 8.45am onwards Yacht Club de Monaco Regatta 9am -6pm Sporting d 'Hiver,Place du Casino

Registration Monday 9 September 2.30pm -6.30pm l 'Hôtel Hermitage -Salon Costa

Life and Reinsurance Presentation organised by the FFSA 6pm -8pm

Official cocktail party on the Monte-Carlo Grand Hotel Terrasses,hosted by the RVS organising committee.

Tuesday 10 September 9.30am -11.30am Sporting d 'Hiver -Place du Casino. Conference conducted by José Ruiz, managing director, Nacional de Reaseguros New risks,what capacity? Speakers: