There's plenty of bad news for reinsurers to discuss in Monte Carlo. But how will they respond? Michelle Hannen reports
It's Rendez-Vous time again and that means one thing: reinsurance.
As the reinsurance world converges on Monte Carlo from 6 - 11 September, brokers and insurers will be eagerly awaiting the outcome of the talkfest to gauge how long the current hard market will continue.
Rates in commercial property, motor fleet and professional indemnity in the UK are showing signs of softening in recent months.
And coupled with this bad news is the struggle by many insurers to recover from lower investment returns which coincided with higher claims costs. So any indication that reinsurance rates are falling will pile on more bad news.
Two years ago reinsurers were rocked when the events of
11 September unfolded mid-conference. This year's conference may give some indication of how long a shadow that event still casts on the global reinsurance industry.
Other issues expected to be at the top of the agenda include the long term impact of recent volatility and the future economic environment on the industry, emerging risks and the future of long-tail liabilities.
For those unlucky enough not to be able to make it to Monte Carlo, Insurance Times' sister publication Global Reinsurance is once again broadcasting from the event. Four one-hour programmes featuring interviews with leading reinsurance executives will be broadcast at
www.globalreinsurance.tv after the event until the end of 2003.
More information at
www.rvs-monte-carlo.com
Programme of events
SATURDAY 6 SEPTEMBER - 2.30pm-6pm
Registration: Sporting d´Hiver, Place du Casino
The registration facility is available between 9am and 6pm each day until Wednesday 10 September at 12.30 pm.
SUNDAY 7 SEPTEMBER - 8.45 am-1pm
Regatta: Fontvielle Harbour, Waterfront restaurant, 28 quai Jean Charles Rey.
MONDAY 8 SEPTEMBER - 6pm-8pm
Official cocktail party: Venue TBA.
TUESDAY 9 SEPTEMBER - 9.30am-11.30am
Presentation-debate under the chairmanship of Jozef De Mey, chairman of the executive committee, Fortis A.G. Topic: What long term impact could the recent volatility in future economic environment leave on the industry? Sporting d´Hiver, Place du Casino.
WEDNESDAY 10 SEPTEMBER 8am
Press conference by the chairman of the Rendez-Vous de Septembre organising committee: Hôtel de Paris, Salon Debussy.
9.30am Round-table under the authority of the Non-Life Insurance Plenary Commission, FFSA (Paris): Germany, United Kingdom, Italy, France: the evolution and trends of the non-life markets. Sporting d´Hiver, Place du Casino.
For more information contact Direction du Tourisme et des Congrès, 2A, bd des Moulins - MC 98030 MONACO CEDEX, Tel: +377 9216 6050 /51 /52, Fax: +377 9216 6135
