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Catlin: Manche Makler reden weichen Markt herbei

01.10.2014 – CatlinVon einem weichen Markt ist die Branche laut Stephen Catlin meilenweit entfernt. Manche Makler würden diesen vielmehr herbeireden. 30 Jahre nach der Gründung ist die Catlin Group Lloyd’s größter Player. CEO Stephen Catlin lässt im Interview mit dem Intelligent Insurer keinerlei Zweifel aufkommen: das weltweite Wachstum soll ungebremst weiter erfolgen.

He acknowledges that rates are softer in some lines—unsurprisingly mainly property-catastrophe reinsurance, and mainly in the London Market and Bermuda. But rates are falling from what was a very high point, he says. Single digit decreases from such a level do not a soft market make.

The influence of the influx of alternative capital on pricing in the market has been exaggerated, Catlin believes. He largely blames brokers for this. Catlin says he has made this point to several brokers, ones he accuses of “talking down” the market. “You have to be careful or you get what you wish for,” he says. “Such statements need context otherwise the danger is that clients will come to the negotiation table with expectations that are unrealistic.”

“The new competition is really in areas where the nature of risk can effectively be commoditised. In that sense, the ILS deals are no different from the industry loss warranties traditional players have offered for a long time.

Where surplus and excess capital does exist, Catlin believes this is not necessarily a bad thing given some potential reserving issues in the market and the rate at which the demand for re/insurance products could potentially grow.

Stephen Catlin tells Intelligent Insurer about his willingness to follow his instincts, his irritation with some brokers and how he defines the term entrepreneur.

Bildquelle: Lloyd’s

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