New York partner Tom Dawson was quoted in a Global Market Report article titled, “Trump: a not so quiet storm.” The article discussed the optimism surrounding the (re)insurance industry under the new administration. Many believe the Trump administration will generate efforts to improve infrastructure, which will encourage economic activity and increase the need for more insurance. The article also highlights other areas of potential economic growth and losses in the insurance sector under President Trump.
“The Trump administration will seek to expand economic activity generally and therefore opportunities for reinsurers – a combination of i) increased infrastructure and defense spending and ii) tax cuts and legislative/regulatory rollback spurring increase availability of credit,” Tom said. He added, “Republican-controlled Congress should move to privatise flood, health and terrorism insurance. Less Federal oversight of re/insurance.”