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<\/a> Reinsurance News spoke with Baertschi about the outcomes of this year\u2019s renewals, the outlook beyond January 1st, technology, and more.<\/p>\nBaertschi expects the industry to expand broadly in line with global GDP, though at a slower pace than in prior years. He also feels that consolidation is likely to continue, with big reinsurers already accounting for a higher share of premium volumes than in the past.<\/p>\n
Delegated authority arrangements, he noted, are also experiencing renewed interest as companies explore growth opportunities. \u201cThe large players generally write a higher percentage of the overall premium volume than 10 years ago, and we would expect that trend to continue,\u201d he said during the interview.<\/a><\/p>\n Shifting interest rates, inflation, and geopolitical uncertainty remain influential, but Baertschi stressed that none of these factors are new to the sector. \u201cAs an industry, we take this into consideration in our models, in our pricing assumptions, and in our strategies. We are generally quite resilient and work through these various phases of spikes,\u201d he explained.<\/p>\n Climate risk is increasingly shaping market dynamics. Secondary perils such as floods, wildfires, and severe convective storms now account for roughly 60% of global catastrophe losses. \u201cWhere we live, how we live, how we expose ourselves, and how we mitigate against against these risks. Models have become better, though they generally lag a little behind because new data emerges and is then included,\u201d Baertschi said.<\/p>\n Regarding pricing adequacy, he highlighted the industry\u2019s careful approach: \u201cWhat we\u2019re looking to do is assess what is an adequate rate for a particular risk in an evolving risk landscape. Then the market talks, and this is where the pricing comes in. If you have a hardening market, adequacy goes up, and if you have a softening market, adequacy goes down.\u201d<\/p>\n He continued: \u201cAnd what is important about this topic is that as an industry, but also as society, we\u2019re aware of these risks. We\u2019re paying attention to it.\u201d<\/p>\n On growth opportunities over the next 12 to 24 months, Baertschi emphasised, in the interview,<\/a> client needs and partnerships: \u201cWe start with the clients and what\u2019s important to them. Where do they see a need? Where do they see an opportunity? Then we have an open dialogue on how we can partner around their needs.\u201d<\/p>\n Artificial intelligence was also discussed. \u201cGenerative and agentic AI is a big topic for our industry, and one that we need to be comfortable with and, quite frankly, lean into, because it can really be a game changer,\u201d Baertschi said.<\/p>\n The full video interview is embedded below.<\/p>\n![\"Brit](\"http:\/\/www.ateliersfurrer.com\/wp-content\/uploads\/2025\/09\/brit-re-in-article-728x90-1.jpg\")
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