Monte Carlo #64 - Yassir Albaharna: Risks Cedents Didn’t Expect

Yassir Albaharna has been coming to Monte Carlo for almost 37 years, back when meetings lasted an hour and M&A hadn't yet thinned out the receptions. On the TRP yacht at RVS, the Group CEO of Trust Re explains why the Gulf's political violence losses are colliding with a soft reinsurance market. Also why cedents across the Middle East are finding their exposures outgrew their protection, and why the oldest rule in reinsurance buying is suddenly the most relevant.

WHAT YOU'LL LEARN:

• Why a capacity-driven soft market is still tightening wordings on political violence and contingent BI in the Gulf
• How an estimated $3-4bn of war and political violence losses could squeeze cedents' premium volumes in 2026
• Why Gulf cedents want more protection just as reinsurers get wary of poorly modelled risks
• Why "buy for the unknown" should shape your programme before renewal, not after the next loss
• Where the Middle East's insurance talent is coming from, and why keeping it is the real challenge

TIMESTAMPS:00:00 Intro00:37 Almost 37 years of RVS and how Monte Carlo has changed01:54 Hungry capacity meets Gulf political violence losses03:18 Why Gulf cedents face a premium squeeze in 202604:13 More protection wanted, less appetite offered, and buying for the unknown06:07 Where the Middle East's reinsurance talent is coming from07:55 Retention, IFCs and the London brokers moving east08:52 Advice from almost four decades in reinsurance10:22 Outro

EPISODE LINKS:
Trust Re: https://www.trustre.com/

CONNECT WITH US:Say Hello: producer@thereinsurancepodcast.comWebsite: https://www.supercede.comLinkedIn: https://www.linkedin.com/company/supercedehqX: https://twitter.com/SupercedeHQYouTube: https://www.youtube.com/@SupercedeHQRSS Feed: https://anchor.fm/s/7e741c8c/podcast/rss