Interview:


Dave Adams, Maiden Re


WEDNESDAY 10.31.12


When the going gets tough…


When times are tough, cedants want security, certainty and a partner they can trust – that is exactly what Maiden Re offers, says Dave Adams, the company’s head of specialty underwriting.


I


n such challenging economic times, security is at the forefront of insurers’ minds. This is something Maiden Re can use to its advantage, thanks to the unique proposition it can offer clients. Dave Adams, the company’s executive vice-


president and team leader of specialty under- writing, says one of the reasons he enjoys at- tending the annual PCI conference is because it allows him to speak to a wide range of different insurers in a short space of time. “Whether they are specialty carriers, large


players or mutuals, the one thing they want to talk about is the economic recession, what that has meant for their capital basis, and the return on capital they can expect. Not far behind that 


“Yields on investments are so low that all the focus is on the underwriting result and from that perspective the entire industry has challenges.”


      


         trust. This is a form of collateral that uses seg- regated funds to protect assets for each client. The segregated trusts are non-cancellable and securitise all reinsurance liabilities including case-loss reserves, incurred but not reported  Adams notes that such structures are also


increasingly valued by rating agencies – a bo-  no question marks or risks at all concerning the collectability of reinsurance recoverables in the future. “It is a very advantageous structure to     Adams says. He says clients do not need security worries


www.intelligentinsurer.com Dave Adams, Maiden Re


when they have more pressing matters to deal with, such as focusing on how they can maximise return on capital and shareholder returns in such a challenging environment.





focus is on the underwriting result. From that        protecting the balance sheet against the bigger 


“In these troubled times, cedants want someone they can trust and I want them to turn to us as a respected partner they are very comfortable working with.”


Adams says the company is also able to help cli- ents looking to grow into new lines. He has a couple of meetings arranged for PCI, he says, with insurers looking to expand into new areas, but which want appropriate reinsurance support and expertise to do this. “We can help them do that and ensure they are not going to threaten their balance sheet when  The main message Adams wants to get across


at PCI is that Maiden Re offers an exceptionally strong and deep portfolio of products, combined     - rity that is almost unmatched. “In these troubled times, cedants want some-


one they can trust and I want them to turn to us as a respected partner they are very comfortable       our competitors in a number of ways: our focus on domestic clients, the trust and the products we  Adams says the company is also having a se-


ries of meetings in PCI concerning its unique automated modeling and pricing tool (AMP), an online system that can be used by cedants to better manage their books of business, which has recently been expanded to include workers’ compensation. “We are seeing growing interest 


Wednesday October 31 2012 | INTELLIGENT INSURER —PCIAA TODAY | 3


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