Reinsurance professionals from 19 countries discussed the main issues of the Russian market in Moscow

28 April 2014 —
rrc_2014_1Russian reinsurers are currently more interested in hearing the opinions of their international counterparts than they were in past years. At the same time, the Russian market probably needs a flow of incoming business, have noted several participants that attended the 18th Edition of the Russian Reinsurance Conference, already a traditional event on the Russian market.

The event took place on April 8-9, in Moscow, focused on the national peculiarities of Russian reinsurance.

"I would assume that only certain companies for the moment are ready to step forward and apply a range of innovative solutions to existing problems. But the major part of the market, it is still in the phase of the development. So I would say that some solutions, like multiline aggregation, treaties and solvency quota shares are the next step into insurance", has declared Petr POKORNY, CATLIN Re, regarding the main conclusions of the event.

277 people from 114 companies representing 19 countries attended the conference, organized by the Reinsurance Committee of the All-Russian Insurers Union with Group Business Format as co-organizers. XPRIMM Publications supported the event as Media Partner and was represented at the event by Adriana PANCIU, CEO, Media XPRIMM and Oleg DORONCEANU, Director, International Relations Department. Despite the fact that 2013 was not the best year for the reinsurance market the number of participants noteworthy increased.

It is worth nothing that the main discussion in the opening of the event was attended by Igor ZHUK, Director of the Insurance Market Department of the Central Bank of Russian Federation and Igor JURGENS, President of the Russian Union of Insurers. They were joined by leading industry professionals: top-managers, Russian and foreign insurance and reinsurance companies' professionals, insurance brokers, adjusters, lawyers and independent consultants.

The first day of the conference was devoted to a plenary debate which covered the following topics: reinsurance and insurance are two parts of a whole, Russia's position on the international reinsurance market: the joy of victory or bitter disappointment?, general results of renewals.

Also, a contest dedicated to the advantages of Russian and Western approaches to the formation of reinsurance programs was organized within the event.

During the second day of the conference the focus was shifted towards the exchange of experiences and discussion of practical reinsurance issues. The following topics were discussed: loss adjustment, innovations and alternative approaches to traditional reinsurance business, reinsurance of imputed types of insurance (developers), reinsurance Internet technologies, legal news and issues, the impact of the international economic sanctions on reinsurance operations.

A simulation exercise "You only give me a time!" devoted to the subject of renewal and termination of reinsurance contracts became one of the highlights of the conference. "Recent years was adopted a modern format for the conference. There is an opportunity to express one's opinions more freely. Discussions and interactive polls are conducted. Every year the conference becomes more and more interesting. It is quite good that the conference is not limited only for the Russian market," noted Julia KHMELNYTSKY, Deputy Director of the insurer broker WILLIS CIS.

Overall the conference was held in a relaxed and friendly atmosphere. As a positive side of the event the foreign participants noted high level of organization and the open nature of the conference. They also underlined Russia's readiness to discuss openly the problems and prospects of the Russian reinsurance market.

For short interviews/opinions of the insurance expert's on All-Russian Reinsurance Conference please click here.

Details of the conference as well as presentations and speeches are available at http://ins-df.com/reconference.



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