Interview with ORH's Brian Young

[A_Hamilton]

FYI. Good overview of where ORH is writing premium and where it is avoiding. Sounds like a rough Q3 for the industry (and ORH to a lesser extent) and that there is still more to be learned on COVID losses in EMEA and South Africa.

 

https://www.theinsurer.com/reinsurance-month/

[nwoodman]

Brilliant interview, thanks for posting.  The commentary around inflation and then their hesitancy around providing reinsurance to “a lot of new entrants” was telling.  Will have to listen again and take some proper notes.

[glider3834]

very useful Cheers

[glider3834]

I thought Brian's comments they are not expanding in critical cat interesting - if that is the case at Odyssey then I suspect it would be the same strategic positioning throughout the rest of Fairfax's insur/reinsur businesses - I expect them to be hit by Ida losses but hopefully this will help to reduce some of the impact

 

While Young said Odyssey has also enjoyed some growth within the property space, the company has stayed away from expanding in what he called “critical cat”.

“We find the cat markets generally speaking rather frustrating if I’m honest,” Young said.

“There’s a lot of unmodelled loss that’s affected the market. If it’s not unmodelled, it’s [an] under-modelled loss. We think we need to see a material correction in cat for us to have more interest for us to expand in that area,” he stated.

[glider3834]

https://www.theinsurer.com/fairfax-celebrates-odysseys-landmark-25th-anniversary/16231.article

 

[bluedevil]

The free book celebrating the 25th anniversary of Odyssey Re is a good read. 

 https://odysseygroup.com/book/