ICAR 2016: Henning LUDOLPHS, Hannover Re talks about the ILS use in Nat Cat risks transferring

22 September 2016 — Daniela GHETU
Henning LUDOLPHS, Managing Director, Retrocessions & Capital Markets, Hannover Re will explain the main aspects of the Insurance-Linked Securities (ILS) use in relation to the Nat Cat risks insurance at the forthcoming edition of the ICAR 2016 - International Catastrophic Risks Forum.

As a responsible for buying retrocessions to protect Hannover Re's balance sheet, and the Insurance-Linked Securities department, Henning LUDOLPHS is a high rated specialist in his field, with an outstanding experience in third party reinsurance risks transferring into the capital markets.

As recent studies show, both at a European and international level, there is growing awareness of the need
to develop and implement strong disaster risk management policies that aim to build resilience against natural disasters. In this context, as recently stated by reinsurers, including Hannover Re, on the occasion of the Monte Carlo "Rendez Vous de Septembre", the demand for ILS will continue and is likely to grow.

In the CEE emerging markets, although the countries' exposure to Nat Cat risks is in many cases quite high, the existing insurance coverage of these risks is by large insufficient. Therefore, the re/insurance and ILS markets could be utilized to increase penetration levels and ultimately narrow the country's protection gap.

However, placing insurance risk in the capital markets is not necessarily easy. Companies wishing to diversify their reinsurance panel in this way may have to overcome the difficulties involved by choosing the best parameters. Yet, many of them have already decided that the challenges are outweighed by the benefits of a capital market placement. Some of these main benefits are: the removal of some credit risk in their reinsurance structure; diversification of the panel of reinsurers; additional capacity; the expansion of business relations with capital markets.

ICAR's 2016 edition lines up an exquisite team of speakers who will share their views on the Nat Cat current issues in Bucharest, on October 11th. The effects of the climate change, the available solutions for mitigating the Nat Cat losses, as well as the newest strategies for claims handling in the property field insurance and the main issued of the Forum's agenda.

The 13th edition of the International Catastrophic Risks Forum - ICAR 2016 will take place on October 11th, 2016, at the Sheraton Hotel in Bucharest, with the official support of the Romanian Ministry of Internal Affairs and the Strategic Partnership of PAID - the Romanian Insurance Pool against Natural Disasters. Main Partners: JLT Re and PCS-Property Claims Services, a VERISK Analytics business. SAFETY Broker is Partner of ICAR 2016.

More details and registration at ICAR 2016.

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