Partnering in dynamic times
The world is facing many daunting – and often interconnected – challenges simultaneously
The world we live in continues to be dynamic on multiple fronts, with much of these impacts demanding support and action from the re/insurance industry. Last year, Rendez-Vous in Monte Carlo and the conference season in general kept us very much focused on the impact of major floods in Europe and Hurricane Ida in the US, as well as Covid-19. So far, this year has been dominated again by climate-driven events: droughts, hail, and wildfires globally, as well as floods are impacting livelihoods and businesses outcomes.
Add to that the wide-ranging ripple effects of the war in Ukraine, the expanding energy crisis, inflation, possible recessions, food shortages and supply chain issues, and it is clear there are many challenges requiring our attention. We also must bear in mind that people are still dying daily from Covid-19.
In fact, I struggle to remember a period in my lifetime when the world faced so many daunting – and often interconnected – challenges simultaneously. Uncertain times like these really do highlight the importance of fulfilling our purpose at Swiss Re: making the world more resilient.
Despite, but also because of these circumstances, we are resolute about being a key partner to our clients and society at large. I am proud of our ability to rise to meet challenges – natural and man-made alike – head on, helping people to recover quickly after unfortunate things happen, while simultaneously building longer-term societal resilience around the world.
For this year's conference season, we are focused on addressing the challenges of macroeconomic uncertainties; the increased impact of climate change, including the effects of secondary perils; pressure for more sustainable business practices, and challenges stemming from a more-interconnected world, such as supply chain and cyber exposure. In short, we are seeing increased client demand for our risk capital and knowledge. We will apply this knowledge to make sure risks that we take are priced adequately to ensure our capacity continues to remain available.
As always, we will publish our special conference season Swiss Re Institute sigma report. This year, the focus will be on how the property/casualty industry will be impacted by and can respond to anticipated changes in global business, environmental and political circumstances. It will be available shortly before the RVS, so be sure to get your copy.
We will host our meetings this year at RVS in the Hotel Hermitage after many years of constructing our own pavilion in Monte Carlo. As we assess all areas of our activities in light of our sustainability and net-zero emissions goals, using an existing structure as well as a smaller group of Swiss Re attendees is a more sustainable option. I am especially looking forward to face-to-face meetings with old friends, as well as making new acquaintances.
At a time when the world seems particularly unstable and fragile, we know that what we do is more important than ever. Despite the current challenges, I feel a real sense of optimism because whenever there are risks there are also opportunities to address them for the benefit of all. Frankly, I believe this is when we at Swiss Re are at our best. We look forward to welcoming you all to what promises to be a very dynamic conference season.
Moses Ojeisekhoba is chief executive officer, reinsurance at Swiss Re