Interview: Tony Weller & Mike Palmer, Citadel Risk


Bespoke and effective


In an industry where everything seems to be going large, it’s a great time to be a smaller player, say Tony Weller of Citadel Risk, and Mike Palmer, CRS UK.


A


s merger and acquisition (M&A) activity continues to dominate the market, the


benefits of being a small, niche reinsurer are evident. While the larger players battle it out for a place


in the competition, smaller players continue to provide a more personal and flexible service, as Tony Weller and Mike Palmer explain. “There is a lot of consolidation going on


and it’s giving less and less choice to people who have reinsurance requirements. For smaller clients, to have someone who provides a different and more personal service is still desired,” says Weller. Palmer adds: “There are also those people


who don’t want to be leveraged with the bigger clients; an independent client doesn’t want to be pushed around by the bigger brokers.” For Citadel, a niche, A-rated Bermudian


reinsurance carrier, US insurance carrier and provider of back office services to the sector, this is an approach that they hold close to their own business. “Smaller clients often feel intimidated by


larger organisations. They encounter people with very sophisticated knowledge within the industry and they see it as quite daunting. We just want to be personable about it,” says Weller. “Start-up clients, for example, appreciate if we


that see organised more they’re getting themselves slowly than they thought,


we might go easier on the minimum deposit premiums, which is something that comes from a smaller, more personal service. “When we know and trust the client we can be


more flexible with terms than the bigger players.” Palmer adds: “A lot of bigger companies will have a model that things need to fit within,


Tony Weller Mike Palmer


whereas if a client requests something from us, we’ll do our best to satisfy their need. We’re lucky with the wide range of tools in our toolbox and being able to structure things in the way we want.” It is this approach to business that has led


the company to its current level of success, and the welcoming of new business, something that Citadel will focus on at the Baden-Baden conference. n Tony Weller is group chief executive at Citadel Risk. He can be contacted at: tony.weller@ citadelrisk.com Mike Palmer at CRS UK can be contacted at: mike.palmer@citadelrisk.com


Lord Mayor offers warm welcome to reinsurance delegates M


argret Mergen, the Lord Mayor of Baden-Baden, has again welcomed


delegates to the town’s annual reinsurance conference, saying it is hard to imagine Baden- Baden without it, such is its annual importance to the town’s economy. “From small beginnings many years ago


it has, during the course of the past decade, grown to the major event that


it is today,”


Mergen said. “It is hard to imagine the town without it. “Each year, the town’s entire population


looks forward to the visiting delegates whose presence have a considerable impact on the town’s character during these few days.” She said she is very proud and honoured to


host such an important conference in Baden- Baden and stressed how the town’s layout makes it ideal for such events. “‘Brand your event’ is the motto of the


congress town of Baden-Baden. Distances here are short. All personal contacts, facilities, restaurants and events can be reached on foot in minutes and you are often taken through


Margret Mergen


parks and gardens on the way. “In Baden-Baden, the hotels, restaurants


and congress facilities cooperate extremely well with one another, unlike any other city. We set the dates for the reinsurance meeting many years in advance. That means that even the


18 | BADEN-BADEN TODAY | DAY 1: Monday October 19 2015


19.10.15 MONDAY


most attractive of enquiries from an organiser would have no chance of finding facilities in Baden-Baden at the end of October.” Mergen also highlighted the investments


the town has made in ensuring the event goes smoothly. Two years ago, Baden-Baden launched a website specifically dedicated to the conference to allow participants to have direct contact with the organisers. “This was particularly valuable with regard


to hotel rooms and locating meeting rooms. Via this portal, we were able to assist this year in booking downtown hotels as well as meeting tables and seminar rooms,” she said. “We are sure that we are able to offer an


even better service regarding hotel rooms next year with brand new hotels with more than 130 guest rooms, and two renovated hotels in the city centre.” Mergen concluded: “We very much hope


that the delegates of the reinsurance meeting look forward each year with new enthusiasm to our town—in the very same way that we look forward to receiving and welcoming them.” n


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