Maksure Upbeat, Sees Increasing Opportunities for Facultative Reinsurance in Second-Half 2023

With primary insurers faced with changing capital requirement regimes, increasing property values, reduced reinsurance protection on property natural catastrophe and secondary perils like flooding, storms, earthquake, there has been a shift in the landscape influencing buying behaviour of facultative reinsurance. More primary insurers are increasingly turning to facultative reinsurance for individual risk-based solutions, allowing them to maintain their original lines sizes and manage their exposure more effectively.

Maksure has emerged as a key player supporting its clients navigate the changing landscape and guiding them in how to effectively leverage reinsurance capital to manage their risk exposures.

“We have had a solid and sturdy first-half and we expect the trend to continue into this second-half. Facultative solutions have expanded to non-traditional areas such as captives, self-insurance, retention pools and large corporations aiming to access both reinsurance and retrocession markets.” said Simba Makwembere, Managing Director: Europe, Asia & Africa at Maksure Risk Solutions.

The move towards a risk based capital approach by most regulators has driven insurers to be more pragmatic on their risk retention. One has to navigate the balance between risk retention and capital in view of the cost of capital. Well-structured facultative solutions have proved to be the go-to solutions catering specifically to each cedants’ unique needs.

The fundamental macro-economic and global insurance market shift experienced in the first-half of 2023 shaped capacity, limits, deductibles, pricing, underwriting practices, and; coverages. These changes require more flexible individual-risk solutions and reinsurance brokers equipped to assist their clients in making correct technical choices to drive sustainable growth.

Maksure Risk Solutions is upbeat and sees a growing demand for facultative risk solutions.

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About Maksure Risk Solutions

Maksure Risk Solutions is an Afro-Global independent specialist insurance and reinsurance broker with business footprint in Africa, Asia, East & Western Europe, South America and the Caribbean. We provide innovative and tailor-made risk solutions in Insurance and Reinsurance as well as Risk Financing and Actuarial Consulting geared towards capital management and strengthening our client’s balance sheet. Maksure is also one of the major players in Captive Management (Establishment & Management) in South Africa, Mauritius, Bermuda and various other jurisdictions. We have access into the Lloyds of London with a deep understanding of African markets. Our global nature ensures that our clients access quality capacity as well as some of the world’s latest thinking and solutions.