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 | Dauphine, A709 |
French event
The intensification and increased frequency of climatic hazards are putting growing pressure on insurance and reinsurance mechanisms. In 2023, weather-related claims cost €6.5 billion in France, making it the third most expensive year for the sector. According to projections by the Caisse Centrale de Réassurance, the cost of weather-related losses could rise by 23% between now and 2050, and even by 47% to 85% if changes in insured values are taken into account. In addition to increasing the probability of risk occurrence, the growing concentration of wealth is exacerbating the scale of potential losses, calling into question the very viability of certain insurance and reinsurance mechanisms. Faced with increasingly systemic and correlated climatic hazards, certain key insurance principles, such as mutualisation and diversification, are being put to the test, raising questions about the operating conditions of a financing tool that has historically been based on the dispersion of claims.
Several questions emerge:
- How far can insurance and reinsurance absorb losses linked to climate change? How can actuarial models and conditions of insurability be adapted in the face of rapidly changing risks?
- How can we guarantee the sustainability of mutualisation in a context of increasingly concentrated and correlated risks? Do we need to rethink regulation, risk-sharing mechanisms or the creation of new hedging instruments?
- What role should insurance and reinsurance play in adapting infrastructures and exposed assets? How can prevention be integrated more effectively into insurance strategies?
Speakers :
- Laurent Boussu, Directeur – Risques, Assurance & Contrôle Interne, Groupe Servier
- Frédéric Durot, Managing Director Global P&C, Diot-Siaci
- François-Xavier Hay, Directeur des Investissements & Gestion Actif Passif, Caisse Centrale de Réassurance
This debate will be moderated by Angelos Souriadakis, Fondateur et Senior Partner, Cabinet Kea Ylios.
