Reinsurance Market Sees a “Win-Win-Win” Moment, Says Howden Re CEO Tim Ronda
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Howden Re CEO Tim Ronda joined Mark Geoghegan at the Voice of Insurance Podcast ahead of the 66th Reinsurance Rendezvous De Septembre this year, to discuss the reinsurance market. He described it as a rare period where everyone involved—insurers, reinsurers, and brokers—can thrive. Reflecting on the turbulence of late 2022, when capital shortages and delayed quoting caused stress across the industry, Tim now sees a much brighter landscape as of mid-2024.
“I’m really loving it right now,” he said. “I mean, it’s one of these rare moments where I think everybody can win.”
Discussing the improvements in market conditions, Tim highlighted how well-managed insurance companies have successfully increased their original rates, adjusting for rising reinsurance costs and other factors like social inflation and severe weather events. For Howden Re, increased capacity in the market has opened up opportunities to be creative and provide innovative solutions and unique deal structures to clients.
“Our clients are crucial to us and they require extraordinary service,” said Tim. “If you give your clients extraordinary service with deep knowledge and surrounded by relationships where they know that they matter most… how do you do that? It’s by having the best people in the market and having those people be motivated and feel aligned right with each other. So that’s been our premise.”
To hear more from Tim listen to The Voice of Insurance Podcast here: