Reinsurers continue to be pressured by alternative capital entering the marketplace, but Willis Re says in a new report that mutual insurers can leverage this dynamic to strengthen relationships with traditional reinsurers.
In its “1st View April 2013 Renewals Report,” Willis Re says that “changing distribution models coupled with a flood of alternative capital has left many reinsurers concerned over both their existing portfolios and their access to future growth.”
Robin Swindell, executive vice president of Willis Re, says in a statement accompanying the report that mutual insurers can use this new reality to their advantage. “Traditional reinsurers are very aware that while some larger commercial buyers are reducing their use of reinsurance in this phase of the reinsurance cycle, mutual buyers value long-term sustainable relationships throughout the entire cycle. This is the perfect time for mutuals to demonstrate that they are reinsurers' preferred customers.”
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