The reinsurance market in France, Belgium, and Luxembourg is undergoing significant change as the industry moves from a hard market to what Howden Re describes as "a hard market, softening." Thomas Kroely, Managing Director for Continental Europe at Howden Re, shared his insights on how these shifts are affecting clients and how the company is adapting its strategy.
“Clients’ challenges are becoming increasingly complex,” Kroely said. “Climate change is reshaping traditional views of risk, regulation is evolving, and new exposures such as cyber are emerging. Meeting these challenges requires innovative solutions and teams with diverse expertise to guide clients through today’s heightened risk landscape.”
Kroely highlighted that climate change has led to more frequent weather events like hail and subsidence, increasing volatility in natural catastrophe risks. At the same time, there is a rise in exposures such as cyber threats. Regulatory changes in France add another layer of complexity for insurance companies transferring risk.
Despite abundant capacity in the reinsurance market—particularly across lines like marine and energy—Kroely noted that maintaining long-term stability will require careful structuring of solutions. He emphasized the need for partners who understand both local conditions and global trends. “These dynamics underline the importance of working with partners who not only understand local market conditions and global trends, but who can also help clients navigate an increasingly complex environment,” he said.
Howden Re’s response has been to strengthen its team in France by hiring Margaux Déchant and Arthur Pons as directors, Ferdaws Boumezzough and Kevin Vu as associate directors, and Dravina Fernando as office manager. Kroely described this approach: “Our approach is not about filling positions for the sake of numbers,” he stated. “It is to create a structure where each individual contributes to the bigger picture. This team is focused on building a new offering to clients to overcome the increasingly complex environment in which they are operating. The shifts we have seen since the start of the year are creating opportunities, giving insurers and mutuals greater choice and stronger competition. At Howden Re, we are driven to develop innovative services in analytics, reinsurance cover, tools, and expertise, powered by a passionate and high-calibre team, as we work to advance the reinsurance brokerage industry.”
According to Kroely, current market conditions require new types of partnerships between reinsurers and their clients: “We want to reinvent the relationship between clients and reinsurers,” he explained. “Our role is to create a partnership where both sides are supported. With the skills of the team we are building, we design covers that provides value to clients whilst fitting reinsurers’ appetite”.
The firm continues investing in technology initiatives along with external partnerships with specialized firms aimed at providing data-driven solutions beyond traditional broking activities.
Tobias Andersson heads up Continental Europe for Howden Re; he outlined plans for further expansion throughout Europe: “This region is not just a market in its own right,” Tobias says. “It is a cornerstone in Howden Re’s wider continental Europe strategy and growth journey. By investing in local expertise while connecting it to our global network, we are building a platform that gives clients more choice, more innovation, and more resilience.”
Recent developments include launching operations in Iberia; expanding senior leadership roles; opening offices across regions such as DACH (Germany-Austria-Switzerland); growing teams within Belgium & Luxembourg including capital solutions capabilities; plus regional growth announcements covering APAC (Asia-Pacific), Middle East & Africa alongside Latin America—all following an approach combining deep local knowledge with global specialty insight.