Securing profitable growth and outperformance
Grow
Growing profitably and achieving outperforming underwriting portfolios continue to be essential to us. We will achieve this by enabling our clients to grow and succeed, by enhancing our cycle management and portfolio steering, and through innovation and leadership in promising areas such as tailored solutions, longevity and insurance-linked securities.
Enable our clients to grow and succeed
Our Property & Casualty franchise is market-leading and we will uphold this position through our profound underwriting knowledge and experience coupled with discipline in meeting profitability requirements. We will increase efficiency and elevate our risk assessment capabilities by investing in platforms, technology and models.
Our clients’ success is also our success. With this in mind, in Life & Health, we will continue to offer the full spectrum of traditional reinsurance covers and supplement these with new and innovative reinsurance structures. We will invest in digital pilot projects and consistently expand our capabilities to provide data analytics advice to our clients.
Enhance cycle management and portfolio steering
We will manage the Property & Casualty reinsurance cycle and actively participate in the hardening market to improve price quality. Enhancing our portfolio steering capabilities will help us optimise diversification and efficient use of our capital and will enable us to respond even quicker to changing surrounding conditions. At the same time, we will ensure continued decision-making power and accountability for our underwriters.
As the financial performance of our Life & Health inforce portfolio continues to be a strategic focus area, we will take appropriate actions such as targeted rate increases and recaptures. This will improve the economic value of our portfolio.
Innovate and strengthen leadership in tailored solutions, longevity and ILS
High on our agenda in Property & Casualty is the identification, development and scaling of digital opportunities that fit our pure-play reinsurance model. It is our clear aim to win profitable new business and we will do so by leveraging knowledge and expertise e.g. from our structured reinsurance solutions, insurance-linked securities and parametric business teams.
An important factor to fuel earnings growth in Life & Health is increasing the bottom-line contribution of financial solutions and longevity business – by expanding our product offering as well as geographical reach. To satisfy our clients’ demand for high-quality capacity, we will expand our balance sheet capacity through retrocessions and the insurance-linked securities market. This will be complemented by innovation and digital partnerships to support our clients and grow our core business.
“To us, profitability always comes first. This being said, we see a number of growth opportunities and are well equipped to continue on our path of healthy growth over the next years.”
Sven Althoff, Board Member Property & Casualty
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