Monte Carlo #70 - Carla Moffett & Sam Sweeney: Casualty Isn’t Softening Like Property
The Reinsurance PodcastShow Notes
Property is softening at a sprint. Casualty is walking, and keeping one eye on US social inflation. On the TRP yacht at Monte Carlo RVS 2026, Lockton Re's Carla Moffett and Sam Sweeney explain why casualty reinsurance won't follow the rest of the market down, and why the brokers worth hiring now do much more than place the treaty.
WHAT YOU'LL LEARN: Why casualty capacity is plentiful but pricing isn't dropping as fast as property How portfolio quota shares covering MGA and delegated books are creating placements outside the renewal season What reinsurers want to hear on social inflation: claims defence, early reserving, paying quickly How to make sure hard-won original rate gets credit on the reinsurance side Why blanket AI exclusions don't work when silent AI already sits inside PI, D&O and GL Where AI is already sharpening broker work: submissions, data ingestion, contract reviews
TIMESTAMPS:00:00 Intro00:18 Why casualty isn't softening like property01:58 Portfolio solutions and off-cycle MGA placements02:37 Social inflation and the reinsurers who reserve early03:56 From transaction processor to trusted advisor05:18 The broker as part-time recruitment consultant06:01 PFAS, AI liabilities and what's really on the agenda07:30 Why blanket AI exclusions make no sense in casualty08:13 Born digital: using AI to sharpen the broker09:24 Are we already AI-enabled?
EPISODE LINKS:Carla's LinkedIn: https://www.linkedin.com/in/carlamoffett/ Sam's LinkedIn: https://www.linkedin.com/in/samuel-sweeney-34744851/ Lockton Re: https://global.lockton.com/re/
CONNECT WITH US:Say Hello: [email protected]: https://www.supercede.comLinkedIn: https://www.linkedin.com/company/supercedehqX: https://twitter.com/SupercedeHQYouTube: https://www.youtube.com/@SupercedeHQRSS Feed: https://anchor.fm/s/7e741c8c/podcast/rss
More from The Reinsurance Podcast
Reinsurance prices are falling, but David Flandro argues that rising capital costs should give buyers pause. Howden Re’s Head of Industry Analysis and Strategic Advisory joins Ben Rose in Baden-Baden to explain why cedents need a contingency plan, how new sources of capital are reshaping the market, and what economic margins reveal about the cycle. They also explore AI’s potential to change modelling and risk trading, plus the case for rebalancing retentions, managing accumulations and preserving options ahead of 1/1.
Dame Susan Langley, the first Lady Mayor of the City of London in 800 years and only the third woman to hold the office, has spent a year flying round the world telling people what London’s insurance and reinsurance market actually does. Recorded at Mansion House, this is her case for why the quietest industry in finance needs to find its voice.
Sub-$50bn of first-half cat losses, no hurricanes last year, none so far this year, and rates heading south. Verisk's Rob Newbold boards the TRP yacht at Monte Carlo RVS to explain why reinsurance should still be braced for $171bn of insured catastrophe loss in an average year. Then he gets into what AI is actually doing to cat modelling, from globally correlated models to agents that talk to each other so humans can get on with deciding.
New capital is still queuing up for Lloyd's, but Argenta's Kate Tongue and Robert Flach reckon the smart money is taking its time. On board the Supercede yacht at Monte Carlo RVS, they explain three things: why investors tend to show up a year too late, why a diversified Lloyd's portfolio can rival ILS returns with less risk, and why capital cares less about a syndicate's AI than about who's parameterising it.
Rachel Turk, Chief of Performance and Strategy at Lloyd's, explains why the flood of third-party capital is good news only while there's fresh risk for it to chase, and why institutional money might one day walk for reasons that have nothing to do with the insurance cycle. Plus: data centres that want $20bn of cover but not the bill, and why agentic AI underwriting only works if it explains itself in plain English.