Reinsurance CEO Julian Enoizi from Guy Carpenter discussed the unique dynamics affecting the European reinsurance market, noting significant impacts from recent natural disasters in the U.S., particularly the hurricanes Helene and Milton. In 2024, the European market is projected to experience estimated losses of around $7 billion, which is expected to be below the ten-year average, despite the continuation of rate pressures from reinsurers. Enoizi emphasized the importance of advocating for insurers to manage volatility effectively while considering the diverse risks across different European markets. He highlighted a case-by-case approach in supporting clients to ensure that unique conditions in Europe’s varied landscapes are recognized and addressed appropriately.
