Legacy and asset-intensive reinsurance are being reshaped by greater competition, increasingly complex liabilities and rising client expectations. In this Q&A, Alon Neches, chief executive of Fortitude Re, told Bermuda:Re+ILS how the market is evolving, why Bermuda remains central and where the largest opportunities and risks lie for the industry ahead.
Looking back over Fortitude Re’s journey, what do you think has been the most significant change in the legacy and asset-intensive reinsurance markets, and how has that shaped your strategy?
Two developments have been especially significant. First, new entrants have brought substantial capital into the market, increasing competition and compressing returns on more commoditised business. At the same time, the liabilities clients are bringing to market have become increasingly complex.
