In its long history, 2023 has been, without a doubt, one of the more challenging years NewRe encountered. An adequate way to describe the year for the company is that it was profoundly ambivalent. On the one hand, we could further grow our businesses significantly to gross written premiums of EUR 6.3 bn while on the other hand, our results have been affected by some significant incidences that caused an annual loss to be reported. However, we strongly believe in our well-diversified approach and sustainable strategy and can confirm that this the route we will take in the foreseeable future.
There are many paths to success. In devising innovative solutions tailored to a client’s needs, a young and talented Property & Casualty team at NewRe impressed the client with their efficiency and commitment – and landed a new line in a coveted casualty market.
At NewRe, taking on risk is second nature. But joining forces with the ICRC to finance humanitarian aid meant taking on a whole new world of risk. Rebecca Cichon, a senior originator with the Capital Partners team at NewRe, talks about the promise and complexities of applying private sector solutions to public sector problems.
A major client shows up during crunch season with a complex deal that needs to close before yesterday. You can say no. Or you can say yes – and, given the right talent and a bit of improvisation, end up with something that works to everyone’s advantage.
The unpredictability of the wind has inspired poets and songwriters since time immemorial. If you’re a wind farmer, though, it can play havoc with your earnings. How do you take the guesswork out of trying to harness an elemental force?