Investment management and investments services banking group BNY Mellon recently explored the prospects for global reinsurers in 2017, and the impact market dynamics could have on the insurance-linked securities (ILS) space in the coming months.
In an interview with Artemis, Harold Fudali, head of US corporate and insurance sales and relationship management at BNY Mellon Corporate Trust, highlighted the financial and political headwinds engrossing both the traditional and alternative reinsurance sectors, providing some valuable insight into what might influence the space over the next 12 months.
To begin, with Fudali told Artemis that over the past year, the global reinsurance sector has seen many challenges to business growth, including balance-sheet pressures exacerbated by financial market volatility, and mounting regulatory demands which have been exhausting compliance costs and resources.
Over the next year, Fudali foresees ongoing change and evolution to the sector’s competitive landscape, fuelled by recent financial and political headwinds, which have the potential to create more uncertainty and growth challenges for the sector.
To read the rest of the interview with Fudali of BNY Mellon, visit Artemis.bm