How reinsurance organisations deal with National Catastrophe risk and resilience
Seminar Summary: The presentation concentrated on Catastrophe Risk and considered related opportunities for the insurance/reinsurance industry, discussing examples of emerging risks and related concerns and providing an overview of how PPP can help increasing resilience within our industry. The presentation walked the audience through strengths and weaknesses of the insurance market. It touched on reputation and other issues and addressed concerns relating to very large potential losses. The audience learnt how technical solutions might (or might not) be able to provide solutions.
Speaker Biography: Dr. Gero Michel is Managing Director of R&D and responsible for the Willis Research Network and the Product Development at Willis Re. The responsibility is global and includes leading and developing our worldwide cooperation between science and the financial world within the needs of the risk-taking financial and insurance industry. In addition, the role includes leading analytical product and tool development. Prior to this he was Senior Vice President and head of international property cat underwriting and head of cat reinsurance analytics at Endurance on Bermuda and responsible for Endurance’s international property cat portfolio and cat business around the globe. His responsibilities included developing innovative risk management and portfolio optimization strategies as well optimizing the Cat risk understanding for natural and man-made perils. Gero has a PhD and MSc in Geoscience from the Eberhard Karls University in Tuebingen, Germany and was educated at Harvard Business School (General Management and Economics). Prior to joining Endurance, Gero was head of the climate hazards development team of RMS, and prior to this he was senior actuarial analyst at Hannover Re both in Bermuda and Hannover. Before that he was an academic leader at the GeoForschungsZentrum Potsdam and le! cturer a t the University of Freiberg, Germany. Gero has completed substantial academic research on hazard and risk, was invited lecturer in various academic as well as insurance related venues and has been working for > 25 years in the field of natural disasters, hazard and risk management.
This is the second seminar in the Risk and Resilience Seminar Series in Hilary term 2011.