Capsicum Re, the specialist reinsurance broker, has held its inaugural Motor Reinsurance Conference in Gibraltar. The two day event began on 29th September and was attended by over 120 delegates from the motor reinsurance market. The event brought together Capsicum Re’s customers, their reinsurance partners and a selection of service providers to the motor market, to discuss expected trends and opportunities for 2015 and hear presentations from experts in the sector.
The key themes emerging from the conference were the opportunities and issues created by the emergence of the capitalised reinsurance product, the impact on the traditional reinsurance product of telematics, loss reserving issues created by PPOs and the impending Solvency II deadline. Overall the theme was that the upcoming reinsurance renewal season was unlikely to see any dramatic shift in terms of pricing and that the UK and Gibraltar based motor insurance market continues to thrive on the opportunities available in the market.
Grahame Chilton, Founder and Chairman of Capsicum Re commented: “The event was a great success attracting the key players in the motor market and providing a forum for discussion about the issues affecting the industry. Earlier this year we announced that Raja Balasuriya, one of the leading brokers in motor reinsurance, would be joining Capsicum Re to head our UK motor and liability business. This conference was a great opportunity to demonstrate our on-going commitment to our customers and reinsurance partners in this area of the market. Capsicum Re is gaining traction and becoming a serious competitor in the reinsurance world.”
Rupert Swallow, Co-Founder and Managing Partner of Capsicum Re, said: “It has been inspiring to see the gathering of the UK motor market under the banner of Capsicum Re. 11 months ago Chily and I were looking at a blank piece of paper and in that time we have created an innovative new business and an environment where our customers can develop and implement their business objectives with the help of our advocacy. The Conference has been an un-paralleled success.”