The Reinsurance Podcast

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363

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Nov 2026

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About the show

Navigating the world of reinsurance can feel complex, but it doesn’t have to be dull. Join Jerad Leigh and Ben Rose—co-founders of Supercede and genuine reinsurance nerds enthusiasts—as they unravel the nuances of market dynamics. With industry expertise, they dive into the trends, challenges, and stories shaping the reinsurance landscape. Whether you're a seasoned professional or just looking for a little more knowledge to ensure the glazing over of eyes at parties, tune in for an engaging journey through the world of reinsurance!

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November 10, 2026Episode 515 min

Baden-Baden #51 – Martin Spacek & Marek Goldbach: Why Cat Models Need to Work Across Platforms

What if a cedent could run catastrophe models from different providers on one platform and use the same exposure data for underwriting and reinsurance placement? Martin Spacek and Marek Goldbach of Aon’s Impact Forecasting team join Ben Rose to explain where open standards are making that possible. They discuss the role of Oasis, growing interest in subsidence, landslide and wildfire models, and how their team uses AI to produce more detailed hazard data. EPISODE LINKS: Martin Spacek on LinkedIn: https://www.linkedin.com/in/martin-%C5%A1pa%C4%8Dek-9954b6a7/ Marek Goldbach on LinkedIn: https://www.linkedin.com/in/goldbachm/ Aon Impact Forecasting: https://www.aon.com/en/capabilities/reinsurance/catastrophe-model-insight OUTLINE & TIMESTAMPS 00:00 Introduction 00:21 How the conversation in Baden-Baden has changed 01:04 Running catastrophe models from different providers on one platform 02:11 Connecting primary underwriting with reinsurance placement 02:40 Model updates and demand for subsidence, landslide and wildfire models 03:23 Who takes responsibility for AI outputs? 04:17 Using AI to map hazards at finer resolution 04:52 What model users expect from AI CONNECT WITH US: Say Hello: producer@thereinsurancepodcast.com Website: https://www.supercede.com LinkedIn: https://www.linkedin.com/company/supercedehq Twitter: https://twitter.com/SupercedeHQ YouTube: https://www.youtube.com/@SupercedeHQ RSS Feed: https://anchor.fm/s/7e741c8c/podcast/rss

November 10, 2026Episode 5012 min

Baden-Baden #50 – Michael Steel: Can Casualty Models Catch Up with Property?

A property underwriter can see where a hurricane struck. A casualty underwriter may wait years to see how litigation plays out across a portfolio. Michael Steel, General Manager and Head of Insurance Solutions at Moody’s, joins Ben Rose to discuss what litigation tracking, company data and common data standards could tell insurers about the losses still to come. They also discuss how insurers are using AI to query risk data and why a better understanding of catastrophe risk is drawing new capital into reinsurance. EPISODE LINKS: Michael Steel on LinkedIn: https://www.linkedin.com/in/michael-steel-5a661237/ Moody’s on the Praedicat acquisition: https://www.moodys.com/web/en/us/insights/announcements/moodys-and-praedicat-a-new-vision-for-casualty-insurance-risk-analytics.html OUTLINE & TIMESTAMPS 00:00 Introduction 00:20 What Mike is hearing in Baden-Baden 01:10 Moving beyond property catastrophe models 02:42 What litigation data can tell casualty underwriters 04:02 Why casualty takes longer to measure 05:21 Building analytics that brokers, insurers and reinsurers can share 06:15 How AI is changing insurance analytics 07:18 Querying risk models and data in natural language 09:12 Why new capital is getting comfortable with catastrophe risk 10:40 Does better data lower barriers to entry? 11:12 Why relationships still matter at claims time CONNECT WITH US: Say Hello: producer@thereinsurancepodcast.com Website: https://www.supercede.com LinkedIn: https://www.linkedin.com/company/supercedehq Twitter: https://twitter.com/SupercedeHQ YouTube: https://www.youtube.com/@SupercedeHQ RSS Feed: https://anchor.fm/s/7e741c8c/podcast/rss

November 10, 2026Episode 499 min

Baden-Baden #49 – Leon Janeke: Bank the Savings or Buy More Reinsurance?

Last year, many cedents kept the savings from lower reinsurance prices. What could those savings buy at the next renewal? Leon Janeke of Marsh Re joins Ben Rose in Baden-Baden to discuss multi-year cover, protection against frequent losses and prepaid reinstatements. Leon explains why the share of insured losses still sitting with cedents matters when choosing between a lower premium and broader cover. EPISODE LINKS: Leon Janeke on LinkedIn: https://www.linkedin.com/in/leon-janeke-1024001b6/ Marsh: https://www.marsh.com/en/home.html OUTLINE & TIMESTAMPS 00:00 Introduction 00:31 What buyers are hearing in Baden-Baden 01:08 Multi-year cover, frequency protection and reinstatements 02:24 How much of the loss stays with cedents? 03:19 Why more capital is entering reinsurance 03:55 Bank the savings or buy broader cover? 04:53 How local losses affect European renewals 05:58 Where brokers are already using AI 07:01 Does scale give larger firms an AI advantage? 08:26 Leon’s advice for 1 January renewals CONNECT WITH US: Say Hello: producer@thereinsurancepodcast.com Website: https://www.supercede.com LinkedIn: https://www.linkedin.com/company/supercedehq Twitter: https://twitter.com/SupercedeHQ YouTube: https://www.youtube.com/@SupercedeHQ RSS Feed: https://anchor.fm/s/7e741c8c/podcast/rss

November 3, 2026Episode 4813 min

Baden-Baden #48 – Tom Spier: Should Insurers Build Their Own Placement Platforms?

If AI makes software cheaper to build, why would an insurer buy a reinsurance placement platform? Tom Spier, Chief Commercial Officer at Supercede, joins Ben Rose in Baden-Baden to discuss which tools insurers might build themselves and why placement tracking depends on what their brokers already use. They also discuss the pressure on traditional reinsurers, the cost of bringing the market together in Baden-Baden, and whether AI cover will become part of existing policies or grow into a class of its own. EPISODE LINKS: Tom Spier on LinkedIn: https://www.linkedin.com/in/tomspier/ Supercede: https://supercede.com/ OUTLINE & TIMESTAMPS 00:00 Introduction 00:20 Ben and Tom in the Baden-Baden courtyard 00:57 What people are saying between meetings 01:51 Traditional reinsurers and the squeeze on distribution 03:18 Brokers, underwriting and alternative capital 04:36 Will the market keep coming back to Baden-Baden? 06:57 Can AI become a standalone insurance class? 08:51 How Supercede uses AI in its own work 09:58 Supercede’s growth ahead of 1/1 11:11 What insurers might build in-house 11:45 Why broker and cedent adoption matters CONNECT WITH US: Say Hello: producer@thereinsurancepodcast.com Website: https://www.supercede.com LinkedIn: https://www.linkedin.com/company/supercedehq Twitter: https://twitter.com/SupercedeHQ YouTube: https://www.youtube.com/@SupercedeHQ RSS Feed: https://anchor.fm/s/7e741c8c/podcast/rss

November 2, 2026Episode 4716 min

Baden-Baden #47 – Jonathan Kimber: When Everyone Uses the Same AI

Could widespread adoption of the same AI tools create a single point of failure across an entire profession? Jonathan Kimber, Head of International Casualty & Cyber Treaty at MS Amlin, joins Ben Rose in Baden-Baden to explore that emerging accumulation risk. They discuss US casualty losses crossing borders, the value of cyber excess-of-loss protection without a major catastrophe, and why faster data capture only helps reinsurers if information reaches their systems. Jonathan also explains what he looks for in cedents and why client relationships and claims expertise remain central as technology advances. EPISODE LINKS: Jonathan Kimber on LinkedIn: https://www.linkedin.com/in/jonathan-kimber-54656592/ MS Amlin: https://global.msamlin.com/ OUTLINE & TIMESTAMPS 00:00 Introduction 00:20 Jonathan Kimber returns to Baden-Baden 00:52 Pricing pressure, capacity and evolving exposures 01:47 US casualty losses and international implications 03:40 Motor claims costs and class actions 05:02 Cyber’s protection gap and evolving reinsurance products 06:39 The value of cyber excess-of-loss cover 08:00 AI coverage and shared points of failure 10:05 Better data for casualty and cyber portfolios 12:27 What reinsurers look for in cedents 14:04 AI, efficiency and the relationship business 15:05 Continuity, consistency, clients and claims CONNECT WITH US: Say Hello: producer@thereinsurancepodcast.com Website: https://www.supercede.com LinkedIn: https://www.linkedin.com/company/supercedehq Twitter: https://twitter.com/SupercedeHQ YouTube: https://www.youtube.com/@SupercedeHQ RSS Feed: https://anchor.fm/s/7e741c8c/podcast/rss

November 1, 2026Episode 4619 min

Baden-Baden #46 – Eran Charit & Kazimierz Layton: The Data Centre Risk Hiding in Credit

How much data-centre risk is accumulating through credit insurance? Eran Charit and Kazimierz Layton of Lockton Re join Ben Rose in Baden-Baden to explain how small positions across individual insurers can become a meaningful aggregate exposure. They discuss the financing behind the AI boom, why geopolitical shocks can take months to reach credit portfolios, and growing demand for retrocession as risks become more concentrated. The conversation also covers alternative capital, MGA underwriting, the outlook for 1/1 renewals and using AI to accelerate analysis while retaining human judgement. EPISODE LINKS: Eran Charit on LinkedIn: https://www.linkedin.com/in/eran-charit/ Kazimierz Layton on LinkedIn: https://www.linkedin.com/in/kazlayton/ Lockton Re: https://global.lockton.com/re/en OUTLINE & TIMESTAMPS 00:00 Introduction 00:20 Eran and Kaz return to Baden-Baden 01:20 Why alarming headlines can coexist with strong results 02:38 How geopolitical shocks filter into credit losses 04:23 Growing demand for credit retrocession 05:41 Fewer markets, greater concentration 06:29 The alternative-capital diversification problem 07:48 MGAs, underwriting authority and long-tail claims 10:12 Why the speed of change matters 11:22 Data centres and accumulating credit exposure 13:17 What could an AI bubble mean for credit? 14:57 Softening rates and the 1/1 renewal challenge 15:40 Sovereign debt and credit’s growing importance 17:24 AI, faster analysis and underwriting judgement CONNECT WITH US: Say Hello: producer@thereinsurancepodcast.com Website: https://www.supercede.com LinkedIn: https://www.linkedin.com/company/supercedehq Twitter: https://twitter.com/SupercedeHQ YouTube: https://www.youtube.com/@SupercedeHQ RSS Feed: https://anchor.fm/s/7e741c8c/podcast/rss

November 1, 2026Episode 4513 min

Baden-Baden #45 – David Sowrey: Buying Reinsurance for the Next Hard Market

A softer market offers buyers more choice, but will today’s capacity still be there when conditions turn? David Sowrey, Executive Chairman and Partner at Acrisure Re International, joins Ben Rose in Baden-Baden to discuss buying reinsurance that works through the cycle. He questions how much even a $50bn Miami storm might move a well-capitalised market, explains what separates stronger MGAs from the rest, and considers ceding commissions, Lloyd’s capacity and emerging AI risks. EPISODE LINKS: David Sowrey on LinkedIn: https://www.linkedin.com/in/david-sowrey-59259113/ Acrisure Re: https://www.acrisure.com/reinsurance OUTLINE & TIMESTAMPS 00:00 Introduction 00:20 David Sowrey joins Ben Rose in Baden-Baden 00:33 Capital, softening and the $50bn storm question 01:33 Secondary perils and emerging AI risks 02:44 Buying reinsurance through the cycle 03:41 What separates the strongest MGAs? 06:08 Fronting, Lloyd’s and access to capacity 08:04 Ceding commissions and long-term relationships 09:20 AI, technology and real-time portfolio visibility 10:54 Casualty verdicts, convective storms and coverage gaps 12:18 The outlook for 1/1 renewals CONNECT WITH US: Say Hello: producer@thereinsurancepodcast.com Website: https://www.supercede.com LinkedIn: https://www.linkedin.com/company/supercedehq Twitter: https://twitter.com/SupercedeHQ YouTube: https://www.youtube.com/@SupercedeHQ RSS Feed: https://anchor.fm/s/7e741c8c/podcast/rss

October 29, 2026Episode 447 min

Baden-Baden #44 – Magnus Heimann: Why Capital Is Turning to European MGAs

Europe’s MGAs are evolving from distribution channels into sophisticated underwriting businesses. Magnus Heimann, Head of MGA Europe at Augment Risk, joins Ben Rose in Baden-Baden to discuss why that shift is attracting new sources of capital. They explore how underwriting expertise, real-time data and operational capability can build confidence among capacity providers, alongside the growth of specialist and multi-territory MGAs. Magnus also explains why capital structures should reflect a business’s ambitions over the next three to five years, before considering AI’s role in underwriting and a question for the industry: how will the next generation build the relationships the market still relies on? EPISODE LINKS: Augment Risk: https://augmentrisk.com/ OUTLINE & TIMESTAMPS 00:00 Introduction 00:20 Magnus Heimann joins Ben Rose in Baden-Baden 00:47 A softer market and sustainable growth 01:30 MGAs move beyond distribution 02:18 Data, technology and talent 03:06 Why alternative capital is looking at MGAs 03:48 Specialist and multi-territory MGA models 04:36 Matching capital to long-term ambitions 05:37 AI, underwriting and the next generation’s relationships 06:48 The outlook for 1/1 renewals CONNECT WITH US: Say Hello: producer@thereinsurancepodcast.com Website: https://www.supercede.com LinkedIn: https://www.linkedin.com/company/supercedehq Twitter: https://twitter.com/SupercedeHQ YouTube: https://www.youtube.com/@SupercedeHQ RSS Feed: https://anchor.fm/s/7e741c8c/podcast/rss

October 29, 20268 min

Baden-Baden #43 – Bernhard Reinhardt: A Quiet Hurricane Season Is Only Half the Story

A quiet hurricane season can tell you less about risk than you think. Bernhard Reinhardt, Vice President of Catastrophe and Risk Solutions at Verisk, joins Ben Rose in Baden-Baden to explain why similar loss outcomes can have very different meteorological causes. They discuss how El Niño can redistribute risk between regions, why catastrophe models need a consistent view of atmospheric conditions, and what that means for understanding correlations across a portfolio. Bernhard also explores the shift from built-in AI chatbots towards tools that connect with insurers’ own systems, before sharing his advice for buyers approaching 1/1: maintain a sound underlying view of risk, whatever the market is doing. EPISODE LINKS Verisk: https://www.verisk.com/ OUTLINE & TIMESTAMPS 00:00 Introduction 00:20 Bernhard Reinhardt returns to Baden-Baden 00:50 Speed, transparency and data in the reinsurance market 01:51 Two quiet hurricane seasons, different underlying causes 03:08 Frequency perils and the wider catastrophe picture 04:15 El Niño and the redistribution of risk 05:02 Connecting catastrophe models through shared atmospheric data 05:59 AI, automated workflows and access to model insights 07:10 Why clients want AI connected to their own systems 08:12 Advice for buyers approaching 1/1 CONNECT WITH US: Say Hello: producer@thereinsurancepodcast.com Website: https://www.supercede.com LinkedIn: https://www.linkedin.com/company/supercedehq Twitter: https://twitter.com/SupercedeHQ YouTube: https://www.youtube.com/@SupercedeHQ RSS Feed: https://anchor.fm/s/7e741c8c/podcast/rss

October 28, 202613 min

Baden-Baden #42 – Charlie Bartlett: What Buyers Should Demand from a Softer Market

A reinsurance programme that can be placed today is not necessarily a sustainable solution for the years ahead. Charlie Bartlett, Head of P&C North, Central & Eastern Europe at SCOR, joins Ben Rose in Baden-Baden to discuss what cedents need from their reinsurers as the market softens. They explore the protection gap left by the 2023 market reset, growing interest in parametric cover, and why spread-loss products could offer a more durable response to frequency losses. Charlie also explains why underwriting discipline and doing the deal need not be opposing goals, and shares his advice for buyers approaching 1/1. EPISODE LINKS: Charlie’s LinkedIn: https://www.linkedin.com/in/charlie-bartlett-39159b3/ SCOR: https://www.scor.com/en/pc-reinsurance OUTLINE & TIMESTAMPS 00:00 Introduction 00:21 Charlie Bartlett joins Ben Rose 00:52 Why renewal detail matters more in a changing market 02:38 Frequency losses and growing interest in parametric cover 03:51 The risk of returning to unsustainable annual aggregate covers 05:02 Spread-loss products and multi-year protection 06:12 The protection gap after the 2023 market reset 07:24 Balancing underwriting discipline and commerciality 08:55 Why broad market labels miss the point 09:42 Growing the reinsurance market through new solutions 10:21 Digital infrastructure, AI and emerging risks 11:03 AI’s impact on day-to-day reinsurance 11:57 Advice for buyers approaching 1/1 CONNECT WITH US: Say Hello: producer@thereinsurancepodcast.com Website: https://www.supercede.com LinkedIn: https://www.linkedin.com/company/supercedehq Twitter: https://twitter.com/SupercedeHQ YouTube: https://www.youtube.com/@SupercedeHQ RSS Feed: https://anchor.fm/s/7e741c8c/podcast/rss