Insurance
Home›Insurance›Reinsurance›Convex CEO warns softening market will widen gaps at r…
Convex CEO warns softening market will widen gaps at reinsurance renewals
Reinsurance executives said the next renewal cycle will reward firms that combine underwriting discipline with operational efficiency as pricing pressure increases.
Reinsurance News reports that Convex Group co-founder and CEO Paul Brand said rising anti globalization sentiment and softening market conditions are likely to pressure reinsurers at upcoming renewals.
Speaking at PwC’s Executive Breakfast during the Rendez-Vous de Septembre in Monte Carlo, Brand said carriers that maintain relevance, resilience, and efficiency are positioned to hold up as competitors push into downward pricing.
The comments highlighted what the executive described as a widening performance gap between companies as conditions weaken, with strong underwriting discipline and a clear market proposition becoming more important.
The event also featured discussion of AI in reinsurance, citing PwC’s 2026 AI Performance Study that found only 20% of companies capture 74% of total AI value, while the most AI fit firms achieved 7.2 times higher AI driven financial performance. PwC’s Matt Britten said execution needs to be early and repeatable, arguing that winners will be those who convert available tools into scalable, enterprise wide value.