News


t is likely to be a relatively uneventful renewals season this year for seasoned reinsurance


buyers who stick by tried and tested strategies and are not interested in opportunistic buying in soft market conditions. That is the view of James Slaughter, senior


vice president and director of global reinsurance strategy at Liberty Mutual. “I don’t think buying behaviour will change much at January 1. In the main I think it will be a fairly straightforward renewal


season for those with mature and


sophisticated buying strategies,” he said. Liberty Mutual has traditionally used a wide


variety of risk transfer tools including insurance- linked


securities collateralised (ILS) and other forms of reinsurance to complement its


arrangements with traditional reinsurers. But Liberty Mutual has started edging back


towards traditional coverage. It has completed three cat bonds previously but decided not to renew Mystic Re this year after finding better


value in traditional reinsurance. Slaughter told Monte Carlo Today this would be unlikely to change as the ILS market currently stands. “We continue to find better value in the traditional marketplace,” he said. He added that Liberty does not forecast any major upheavals at the January 1 renewals and that its strategy will be determined by pre-set risk tolerance metrics. “We don’t use price as the determinant of


purchasing. We have very clear risk tolerance metrics and they cascade through the organisation informing us of the reinsurance need,” he said. When asked if he agrees that it is a buyer’s


market at the moment, he said it depends on the perspective of the buyer. “On the face of it this is a buyer’s market


but transactions only conclude if all parties are accepting of the terms. We buy based on the need and availability of protection to match our corporate goals,” he said. n


James Slaughter


13.09.15 SUNDAY


Liberty Mutual sees value in tradition I


AD PrOOF


Weston: for when the wind blows


Weston Insurance Company is a focused wind-only property insurance specialist, providing coverage for losses from the perils of windstorm or hail. Based in Coral Gables, Florida, Weston is dedicated to helping businesses and individuals achieve financial security by providing access to cost-effective coverage, and responsive, high-quality client service. Building on our executive team’s nearly 100 years of collective experience in insurance and reinsurance, Weston strives to offer the most consistent and cost-effective wind-only insurance protection available in the markets we serve.


For more information,


please visit us online at www.weston-ins.com or call 1.(888).800.5002


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