Sebastian Cook, Deputy CEO of Howden Re International, appeared as a guest on The Reinsurance Podcast by Supercede to discuss current trends and priorities in the reinsurance sector.
Cook emphasized that Howden Re is currently focused on helping buyers and sellers in the market find common ground. He noted ongoing challenges from the effects of the 2023 hard market, stating, “The residual impacts of the 2023 hard market still remain, so that’s certainly still a challenge for our clients and we won’t be the only broker talking about that. I think where we’re really focusing though, is bringing buyers and sellers a bit closer together. I think that’s the only way to grow that marketplace; we have to help our clients solve that net earnings volatility problem.”
He also highlighted Howden Re's broader capabilities, which include Howden Capital Markets & Advisory and Bowood, aiming to deliver comprehensive solutions for clients.
Discussing industry trends for the year, Cook pointed out headline topics such as non-peak and per risk activities. However, he said cedents are concentrating more on their financial positioning rather than loss activity when securing their books.
Cook commented on market dynamics: “In a world where our value proposition is a more thoughtful approach to product and advisory, when you’ve got a trading environment where there’s the ability for compromise from reinsurers and clients are probably optimistic about some of the premium that will be available to spend on innovation, we’re excited about the role we can play because that is what we set up the business to do.”
He also mentioned industry events like Rendez-Vous de Septembre as valuable opportunities for networking: “Plus, one of the many benefits of the Rendez-Vous de Septembre is the ability to put people in a room together who otherwise may not traditionally be meeting, and he’s excited to see what comes in the next year in the industry.”
Looking ahead at market prospects, Cook added: “I’m excited about the favourable market for our buyers, reinsurers are sitting on fantastic results, and there’s an attractive margin for business.”
The full podcast episode featuring Sebastian Cook can be accessed via Spotify or YouTube.