Rendezvous will determine climate for year ahead

5th September 2023

The reinsurance industry will head for Monaco for the annual Reinsurance Rendezvous next week and Chris Butcher Executive Chairman – Intermediary & Market Services says the event combines the ability to meet with senior decisionmakers in a range of companies across the sector with the opportunity to discover reinsurers’ intentions for 2024 and beyond.

This year’s reinsurance rendezvous comes at a time when markets continue to tighten and against a backdrop of the ongoing impact of climate change.

Last year’s event saw reinsurers take a clear position on their exposure to major natural peril events. With a significant rise in the losses from secondary perils, such as wildfires and there may well be some discussion around the future coverage for those perils. The recent arrival of Hurricane Idalia in Florida has been a stark reminder of the impact of natural catastrophe events, and as a strong category three storm it became the strongest to make landfall in the Big Bend region in more than 125 years.

Elsewhere the ongoing issues around cyber cover are likely to be a topic as reinsurers examine their exposures and that of their cedents. At Davies we are closely involved with one dedicated cyber underwriter and one cyber reinsurer, as such we understand the changing nature of the risks that businesses and individuals face.

The increasing attendance of non-traditional capital, which is looking for new investment vehicles, comes at time when brokers are looking at innovative ways to meet any shortfalls in traditional cover.

For Davies, the Rendezvous will once again provide the opportunity to meet with senior figures in the market to discuss the services we can deliver for our clients and continue the relationships that will progress a number of the projects we are currently working on. The Rendezvous attracts those people in the market that can authorise deals and as such it remains a significant event in our calendar.

The number of mergers and acquisitions, and those looking to create new businesses show no signs of slowing down, indeed it could be described as vibrant and much of our time in Monaco will be spent discussing current projects and engaging with those who are considering a change to their business strategies. At Davies we remain acquisitive and discussions in Monaco can lead to opportunities to continue on our path for growth.

The current economic conditions are having an effect. The growth in the US economy has seen a rise in interest from US companies and investors in international investment business. Notwithstanding the political risk in the US, we are seeing a rate of growth in our US business that is not mirrored in the UK and Europe where the economic recovery is not at the same level.

The demand for M&A creates the need for the ability to identify the right opportunities in what is becoming an ever more competitive market. The nature of the Rendezvous and the ability to meet delegates from across the world makes it almost unique.

The Rendezvous is important for the wider market and specifically for Davies and our clients. Given the capacity reinsurers commit to the market the decisions they make around the classes they will write and the capacity they will commit have far-reaching effects for the whole insurance sector. The rendezvous provides the opportunity to understand the reinsurers’ approach to the following year, allowing Davies to understand the shape of the future market and to work with our clients to adapt their strategies to make the most of the market conditions.

For our established MGA clients and those who are seeking to create a new entity it will shape our conversations, around the availability of capital and capacity.

If you would like to continue the conversation, get in touch with Executive Chairman of Intermediary & Market Services, Chris Butcher at

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