PARIS -- (Marketwire) -- 09/06/09 --
Leading global reinsurers establish an Independent
"Global Reinsurance Forum"
At this year's "Rendez-Vous de Septembre", the international
convention of insurers, reinsurers, brokers and reinsurance
consultants in Monte-Carlo, a group of leading reinsurers
announced the establishment of the Global Reinsurance Forum (GRF),
an independent forum. The founding members of the GRF are: Gen Re,
Hannover Re, Lloyd's, Munich Re, Partner Re, RGA, SCOR, Swiss Re,
Toa Re, Transatlantic Re and XL Capital.
The objective of the GRF is to promote a stable, innovative and
competitive reinsurance market environment on a worldwide basis.
More specifically, the forum seeks to:
- develop industry positions on regulatory, legal, tax and
accounting developments affecting the reinsurance industry;
- represent industry positions towards relevant regulatory and
supervising organizations, especially international organizations
;
- promote a worldwide, open and fair framework for the development
of reinsurance markets;
- advance the understanding of the value of reinsurance to the
economy.
Denis Kessler, Chairman of the GRF comments: "The global
reinsurance industry is facing a changing international
environment, especially with regard to regulatory matters. In
order to address these challenges, the leading global reinsurers
have come together to form the GRF, whose main objective is to
promote a stable, innovative and competitive reinsurance market
environment on a worldwide basis. Today there is no such global
representation for the reinsurance industry with the clear mandate
to promote a regulatory framework that facilitates global risk
transfer through reinsurance and other reinsurance-linked capital
solutions. GRF will also work in conjunction with local or
regional reinsurance associations on issues that have an
international dimension."
This information is provided by HUGIN
