Howden Re’s Cook reaffirms commitment to attracting top-tier talent

Howden Re’s deputy CEO for international Sebastian Cook has reiterated the broker’s commitment to recruiting top-tier talent as it seeks continued growth in the highly competitive reinsurance broking space.

“Our approach is demanding and requires the best people to operate in that space. We're fortunate to have many of the top professionals in the market, and we will continue to identify and invest in the most proven brokers, the most innovative thinkers, and the most trusted advisors in our sector,” he told The Insurer TV in an interview as part of#ReinsuranceMonth.

Cook said the ability to attract talent was a key part of the successful growth of Howden's reinsurance arm.

“We are capital and product agnostic, and we structure our client teams accordingly. For our clients, this means they have colleagues from our investment banking, reinsurance and strategic advisory divisions all working collectively to solve their business objectives,” said Cook.

“In recent months, we've seen evidence of this with some key clients. On two occasions over the past six months, a reinsurance engagement has transitioned into a capital markets appointment, and a capital markets engagement has led to a reinsurance placement,” he added.

Addressing secondary perils

An issue that continues to shape the reinsurance market is the increased frequency and severity of secondary perils, which have become the main driver of natural catastrophe losses – a trend highlighted in Howden Re's recent report, Beyond the Horizon: Shaping the Future of Risk.

“The natural catastrophe landscape also appears to be shifting with losses materialising in new and unforeseen ways, and the traditional distinction between ‘peak’ and ‘secondary’ perils is becoming increasingly difficult to justify,” the report states.

Speaking alongside Cook, Howden Re's head of North America Wade Gulbransen highlighted the challenges clients face in securing reinsurance for these exposures.

“With increased retention and the continued rise of secondary perils, there's a gap between what reinsurers are willing to provide and what clients are looking to secure in terms of coverage,” said Gulbransen.

However, Gulbransen stressed that Howden Re is well-positioned to address these growing challenges by leveraging past experience, talent and technology.

“It comes down to the talent, the analytics, and the innovation that help bridge the gap between what’s available in the marketplace and what clients need,” he said.

Watch the full interview to hear more about: