VIG Re strengthens in German markets ahead of renewals

“Having continuous conversations with clients and business partners makes all the difference,” says Catrina Gemmerich, managing director VIG Re Germany, adding that Baden-Baden is the perfect place to hold these conversations.

“We aim to be a credible technical counterpart for our clients, with long-term ambition and a focus on profitability and supporting our clients in doing the same,” Gemmerich said, explaining how VIG Re’s plan was to deepen existing partnerships

As the reinsurance industry approaches the renewal season, she addressed the challenges and market dynamics. 

“In the recent weeks and months there has been quite a bit of loss activity going on across different regions, and within continental Europe,” Gemmerich noted.

“We are faced with a new normal: a higher frequency of events.”

“Germany experienced a flood in summer, and we have recently witnessed a quite devastating flood across the whole of Austria and the Central Eastern European region.”

This surge in loss activity, Gemmerich noted, is shifting the market dynamics.

“We are faced with a new normal: a higher frequency of events,” she stated. 

“The recent weeks in particular will definitely have an impact on the upcoming renewal.”

In terms of trends, Gemmerich outlined that the industry has been adjusting to this, but that a continuation and exchange of trends, new risks and solutions is important. 

“For the upcoming renewal I expect that proportional treaties will again be in focus,” she said. “Linked to this and relevant for proportional property treaties is a removal of nat cat exposure from surplus treaties, which we consider important. 

“Property and nat cat are not the only focus points. For Germany in particular I expect more discussions around motor and tariff adjustment on the original side, which continues to be a pressing issue for the market.”

Passion, partnership and performance

Germany and Austria, core markets for VIG Re, have their own unique characteristics, and Gemmerich explained that VIG Re’s approach to these sectors was grounded in consistency. 

“Our market strategies don’t require an adaptation as of now, because the focus we had right from the start was, and still is, continuous commitment and consistency.”

She elaborated on VIG Re’s outlook, saying: “We leverage our values.

“Our values are passion, partnership, and performance, and these are notions that match nicely with these markets.”

Gemmerich is focused on building long-term relationships with clients in the German, Austrian, Swiss and Nordic markets, while maintaining underwriting discipline. “We stick to our values and we stick to our core. This means profitability is more important than growth,” she explained. 

“Key points for me are focusing on underwriting discipline, transparency on risk appetite and ensuring an individual approach per market and per client.”

For VIG Re, she added, the priority is longevity. “Ultimately, it’s about continuing to build meaningful trust-based long-term relations, while also showing to the market what VIG Re can offer and explaining our proposition to clients and business partners.”

VIG Re’s expansion into Munich marks a major milestone for the company. Gemmerich explained the significance of the event, saying: “We opened our office in June this year, which was an important event for VIG Re .

“The reasoning behind the move was strategic, centring around client and market proximity in a reinsurance hub. For the German-speaking markets in particular, long-term orientation is extremely important,” she observed.

“Munich is already a very important location for reinsurance, so this move allows us to emphasise our commitment to the region and to our business partners.

“Inside a growing team that’s developed from two to 12 people in one year are seven very experienced underwriters for different lines of businesses markets with strong expertise who will strengthen relationships with clients and partners.”

As for her expectations for Baden-Baden this year, Gemmerich is optimistic, saying: “We are now into full swing, and this is good; it’s what our industry is all about. 

“Underlining this, it’s about people, and this is why I think Baden-Baden is important, because we talk to each other face to face, finding solutions that meet clients’ needs.”

Catrina Gemmerich is the managing director of VIG Re Germany. She can be contacted at: info@vig-re.com  

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