In a recent Reinsurance News interview, Renaud Guidée, Chief Executive Officer of AXA XL Reinsurance, discussed the priorities shaping client conversations and market strategy at this year’s Singapore International Reinsurance Conference (SIRC).
Guidée said his interactions with clients will centre on “looking at adequately priced risk” and noted clients look for “reinsurers who have a willingness and the ability to pay claims when they arise.”
On current market conditions, Guidée described the environment as stable and well-balanced. “The market looks healthy and balanced,” he said. “There are lower cat losses than expected this year but given increasing weather volatility globally there’s still strong interest in the cat market.”
Asia’s protection gap remains a major concern. Referencing the July 2025 OECD report, ‘Protection Gaps for Insurance for Natural Hazards and Retirement Savings in Asia’, Guidée pointed out that “Asian countries have a higher protection gap than other continents despite the considerable exposure to natural hazards such as typhoon and flooding.”
He highlighted the report’s findings that “for the 2019–2023 period, average annual economic losses were 165% greater than for the first five years of the new century (2000–2004) and that for the period 2000 to 2023, less than 7% of economic loss was insured, with more than half of the countries at less than 5%.”
Discussing how climate and exposure trends are changing, he said, “Increased rainfall, typhoon intensity, and rising sea levels in many parts of the world are affecting the hazard profile. Coupled with the greater hazard we expect large increases in exposure, particularly in cities, and the expectation is for higher economic and insured losses in the future.”
Guidée also emphasised the long-term social and economic benefits of re/insurance, citing the AXA XL supported Cambridge University Report ‘Optimising Disaster Recovery’. “Each percentage point increase in insurance penetration (non-life premiums divided by a country’s GDP) reduces recovery from disaster by 12 months,” he said.
“Lower income households are more at risk. The Cambridge report noted that in countries with very low insurance penetration, recovery is greater than 4 years and, in some cases, the region never recovers.”
For AXA XL Reinsurance, public-private collaboration is essential. “We are very interested as a reinsurer in the complementary role public risk transfer mechanisms play when co-ordinated with the private markets,” Guidée said. “We see the beneficial effect they bring when disaster strikes.” He added, “Getting families and businesses back on their feet quickly, and in a better state – a reformative recovery – is one of the largest benefits re/insurance provides our clients and communities.”
Research partnerships continue to inform the company’s strategy. “We use our research partners to promote a better understanding of risk and allow us to speak to our clients comprehensively about the risks they face now and also in the shorter and longer term,” Guidée said.
“The wildfire research commissioned from the Cambridge Centre of Risk Studies shows that building codes in California have had a positive impact on the risk – properties built to chapter 7a code are 2.8 times more likely to survive a wildfire. By raising awareness of this kind of research, we can help be part of the solution.”
Looking ahead, Guidée sees technology and data analytics as key to enhancing decision-making. “AI can assist in sorting large volumes of unstructured data and has potential to enhance our modelling capabilities,” he said. “We are constantly innovating and researching and will continue to invest in this area for our clients.”
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