On October 6, a meeting took place at MAPFRE Tower in Barcelona with the primary local and international brokers operating in the Global Risks sector to discuss the current situation in the insurance market and the short- and medium-term prospects we are able to foresee.
Ricard Garzó, MAPFRE General Manager in Catalonia-Baleares, opened the workshop. A panel discussion in talk format followed in which José Antonio Ruibal, MAPFRE Global Risks Chief Underwriting Officer, and Francisco Oballe, Head of Facultative at Munich Re España, participated and that was moderated by Ramón Pujol, MAPFRE Sales Director in Catalonia-Baleares.
It was a very lively debate with the attending brokers discussing the main challenges facing our sector, namely: the current inflationary environment, the Russian invasion of Ukraine and the gas crisis that it has caused in Europe, the transformation process of large companies due to commitments undertaken to reducing CO2 emissions, the emerging risks and the solutions currently being offered by the insurance market, etc.
These and other major economic, social, and environmental challenges directly impact our insurance and reinsurance market and are creating an outlook that is very difficult to predict for all agents in the sector, both in terms of the degree of impact and also the consequences that could arise with regard to coverage, available capacity, and price.
It was a very lively debate with the attending brokers
discussing the main challenges facing our sector
The discussion addressed the role that the insurance market, reinsurers, the important role of brokers, and, of course, how risk managers need to convey the current scenario within their organizations, involving decisions at the most senior level. In addition, they looked at how to optimize their current coverage taken out, adapting it to the new context.
At the conclusion of the debate, a visit was organized to MAPFRE Tower, one of the most iconic and recognizable buildings in Barcelona. It concluded with a private visit to the exhibition at the Fundación MAPFRE Espai KBr, which is currently hosting the exhibition “A Great Turn in the Possible,” a broad, retrospective look at the great multidisciplinary artist Carrie Mae Weems.
Keed reading… Lisbon. II MAPFRE Global Risks seminar