Inga Beale, CEO, Lloyd's, said the insurance industry invests less in researching risks and developing new products than industries such as manufacturing.
Aidan Kerr, operations director, Flood Re, said the reinsurer is aiming to cover 200,000 U.K. households for flood risk in the shorter term and eventually reach up to half a million by operating in the background of the homeowners' insurance market.
Catherine Thomas, senior director of analytics, A.M. Best, said the active market for mergers and acquisitions has boosted many reinsurers' share prices, making it more expensive for reinsurers to buy back their own shares.
Rowan Douglas, CEO, capital, science & policy practice, Willis Towers Watson, said several new global initiatives are aimed at matching the abundance of insurance capital and expertise with uncovered risk throughout the world.
Scott Williams, director, PcW Global Crisis Center, said insurers are uniquely positioned to share information and educate businesses, societies and governments on issues of risk and sustainability, but appear to lack the drive and skills to do so.
Copyright © 2017 A.M. Best Company, Inc. and/or its affiliates ALL RIGHTS RESERVED.
