This research is an output from a 3-year study of the global reinsurance industry, covering the main stakeholders of cedents, reinsurers and brokers. It examines the implications of profound change arising from shifts in regulation, consolidation in the key players, and increasing competition both within the reinsurance industry and from alternative capital providers. These changes are driving convergence in a market that was, until recently, characterised by significant cultural variation in buying and selling reinsurance. The findings in this project will help industry participants to take stock of their current position in the industry, the specific types of differentiation available, and how these differentiators can create advantage. Specifically, the research provides a series of evidence-based frameworks and models that firms can use to diagnose their existing strategies and structures and consider possible alternatives.
This project was commissioned and sponsored by the Insurance Intellectual Capital Initiative (IICI), an industry consortium comprising Amlin, Aon Benfield, Asia Capital Re, Hiscox, Liberty Syndicate Mgt, Lloyd's Tercentenary Foundation, the Society of Lloyd's, Validus and the Worshipful Company of Insurers.
Research council funding includes the British Academy of Management, Economic and Social Research Council, and EU 7th Framework.