CEO Ryan Mather has told Reinsurance News that reinsurers need to rebuild confidence after a period of challenging conditions and inadequate returns.
He told the publication Ariel Re is on the ‘front foot’ regarding catastrophe risk – in Florida in particular – as the market enters hurricane season and a challenging renewals period.
“The reinsurance market isn’t yet in a place where you can just turn up and win or even meet your cost of capital, as evidenced by some of the Q1 results,” he said, noting losses even among the largest European reinsurers.
“In order to win at this, you’ve got to do something a little bit different. You’ve got to be doing something special. So that’s what we’re attempting to do.”
Read the full article here: https://www.reinsurancene.ws/reinsurers-need-to-rebuild-confidence-ariel-re-ceo/