Reinsurers Optimistic About Market Outlook

First published in Reinsurance News, October 2019

Optimism is high in the reinsurance industry this year, according to Brad Adderley, partner at offshore law firm Appleby, and there appears to be some confidence that the market's outlook will improve further.

Speaking in an interview with Reinsurance News at Reinsurance Rendezvous event in Monte Carlo this year, Adderley explained that long-awaited rate increases this year had driven some positive sentiment, but there is consensus that more is to come.

"One of the key themes we are hearing is reinsurers saying that the market needs to be firmer. They can't survive unless it's firmer," Adderley said. "Conversely, brokers are constantly saying that some markets might go down, or that there won't be much change."