Thursday, December 9, 2021

Underwriting head on AM RE “very sustainable option”

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Dijak, whose camp has been empowered by Asian reinsurers who want to access US business, noted: “We act as a general management underwriter in quota share reinsurance. We basically underwrite US-based businesses in the program space. Fronting careers have developed over the last three to five years, but they need to be reinsured. So, it’s all about delivery.

“Working in partnership with fronting carriers requires many US programs or MGA capabilities. AM RE manages our entire reinsurance portfolio for our reinsurance partners from underwriting to claims supervision. We discuss their ‘boots on the ground’ in the US I want to meet them more than once a year. We are currently in Mumbai for a week. ”

What attracts reinsurance insurance partners to the model, AM RE executives believe that the U.S. market gives Asian reinsurers great portfolio diversification and a strong U.S. market presence.

Dijak highlighted: “The US market, especially the E&S (surplus and surplus) market, is very strong, and we have access to a wide variety of programs. We can set up a program with a lower limit that exposes non-net cats (natural disasters).

“We can combine a portfolio of four or five lines of business for any reinsurer. Our portfolio consists of many SME insurers in the US market. Distribution is a big part of our offer that we have access to this business in the current solid market, so they are interested. “

In Dijak’s view, the core idea of ​​profitable business underwriting transcends continents, so the proposition works. “Most industries have been affected by globalization and reinsurance is no different,” he said. “We’re improving on that.” Texas Firm 201 Asia has been partnering with Asian reinsurers since.

“At AMRE, we have six full-time underwriters who were previously primary underwriters, so we know the risks at a very grainy level, and we know the basics of finding the drive for that program,” said an alumnus of Starstone Insurance. Profitability

“Working closely with MGA to manage and implement these controls is essential, so we add value to Asian reinsurers. It is all done on a quota share basis. So, we are not submitting personal risks to them for review – we are managing it; We make all arrangements for them. ”

Dijak – who thinks the industry will see a tough market by the end of 2022, at least – added: “[The program space] A very effective option. It just speaks to this notion of globalization. He also highlighted significant events that have caused a great deal of uncertainty with the preservation of claims.

“I think we’re at an unprecedented time in terms of tough markets,” Dijak said. Insurance business. “There have been a number of incidents হোক be it coveted, high-loss nut cats in recent times, or large-scale cyber-damage-that have created opportunities that we have never been so close to. There is a lot of uncertainty. ”

“I think we’re one step ahead of the game in that we were able to disrupt this market three years ago with the ability to deploy in the United States from Asia reinsurance.” “Initially, seeding companies were most comfortable with large European reinsurance companies, but now Asian reinsurance has become more widely accepted.

“With more disruptions, especially for U.S. carriers, and the uncertainty of saving losses, early carriers are forced to re-examine their product lines. , No longer reluctant to use Asian reinsurance panels – they are open to it.

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