The 2017 global life reinsurance market is worth €120 billion. In France, it represents nearly 2 billion, or 37% of the reinsurance premiums on the French market. With a constantly growing world population and increasing life expectancy, the need for collective and individual coverage is increasing. The 29th Reavie meeting is an opportunity to review the outlook for this market and its specific French features.
Reavie is an opportunity to meet large numbers of clients and to discuss pertinent issues with other professionals. We asked Eric Delafosse how can reinsurers help life insurers
Two days of networking, executive business meetings, debates on current issues and market challenges: innovation, health, digital, prevention, health system reform, solvency. For the global 120 billion euros life reinsurance market, the Reavie conference is the opportunity to take stock of market prospects and of the specificities of the French market.
Eric is Reinsurance Director of AG2R La Mondiale and a CCR Re partner for many years.
"There are two types of risk, existing risks and emerging risks. The emerging risks are of a contingent nature and, for example, people expect real expertise, real support and important protection from the reinsurers.
On the other hand, we also have more controlled risks such as mortality, the Pact Act, and disability, for which companies have significant experience,and depending on the size of the company, there may be less need for reinsurance.
From a reinsurer, I first expect significant financial strength because it must be readily available in case of disaster, especially in cases of major disaster. I also expect competent skills and services on based on the insurer’s experience and expertise.
Reinsurance should allow us to increase our solvency with new platforms. A lot of platforms have been studied on the market, we have not yet seen all reinsurances fully applied but I think that things will happen within the next two years, allowing companies to improve their solvency ratios through reinsurance.
The big issue for life insurance is really retirement; we are encountering new regulations, the Pact Act, pension reform, the merger of AGIRC and ARRCO.
I think the biggest challenge that will occupy all of us is really going to be about retirement which will be at the core of all discussions and to whose regulations all new systems will respond. Beyond retirement, there are issues relating to dependency risks and being able to support an aging population, with the cost of care constantly increasing."
"We are very familiar with the legal and technical realities, and the political issues of life and health insurance in France, such as aggravated risk, or dependency risk insurance coverage and for this reason we are able to offer better, more appropriate solutions for our customers.
And as a medium-sized insurer we offer familiarity, responsiveness, long term service and support. Our ambition is to develop business in general, particularly in the area of individual risk reinsurance to consolidate our positions in the French and Middle East markets, where we have equally important business activity, and also to develop business in the Asian market."
CCR Re is willing to develop its Life book by providing support to the clients with whom already has a well-established P&C partnership. With a more risk friendly underwriting philosophy that fits within a disciplined and predefined framework, CCR Re is renewing its teams in order to raise its international profile while capitalising on its in-house skills and client relations.
Update 2020:
CCR Re offers its clients a brand new tool for group life pricing: https://myquote.ccr-re.com/