The 48th Baden Baden Congress was held from 20.10.2019 to 24.10.2019.  The Conference provides an opportunity for cedants, brokers and re/insurers from across the globe to get together not only to discuss the renewal of reinsurance contracts prior to the major renewals season in January but also to exchange views and ideas on issues faced by the (re)insurance industry.  

The GIC Re team was led by Joint In-charge Mrs. Reena Bhatnagar, GM Mr. N. Ramaswamy, DGMs. Mrs. Girija Subramanian and Mr. Hitesh Joshi, AGM Ms Hygina Pinto and Chief Manager Mr. Shaji Thomas.  

The meetings conducted at this Conference with various business partners have helped build and grow our international book of business as well establish relationships with good “A” rated reinsurers who provide solutions as well as support us on our various Retro programmes.      

This year’s topic at the Guy Carpenter Symposium was  “Is re/insurance ready for Industry 4.0?  The tech opportunities posed by Industry 4.0, otherwise known as the fourth industrial revolution, were the focus of the event.   

Over the past few years the participants have discussed about how reinsurers financial results were impacted by the series of losses.  There is a growing expectation that a significantly tighter retro market will add momentum to property cat reinsurance renewals at 1 January with Typhoon Hagibis coming hot on the heels of Faxai.  Besides the nat cat events, the effects of climate change becoming increasingly apparent across the world was also a subject which get a lot of attention.  

For the GIC Re team, the interactions with various stakeholders have been very fruitful.  It was heartening to see GIC Re being well recognised and acknowledged in the Reinsurance world.