Summary
The challenges confronting insurers in 2025 are a blend of both familiar and emerging issues. Insurers must manage traditional concerns such as interest rates, inflation, climate risk, and significant catastrophe losses from events like Helene and Milton, alongside the dynamics of public versus private investments. Additionally, new factors are coming into play, including the impact of the incoming Trump administration and the evolving regulatory changes in the Caribbean.
Join us for a complimentary webinar in which subject matter experts from S&P Global Market Intelligence, S&P Dow Jones Indices, and S&P Global Ratings discuss emerging trends and challenges facing the insurance industry throughout 2025.
Discussion topics will include:
- 2025 P&C reinsurance renewals on the property insurance business
- Are we heading to a soft P&C market and will that spur consolidation?
- Impact of interest rates on the industry, both on investment portfolios and annuities
- Potential movement to the Caymans and the impact on the life and annuity market
- How much of a role should private credit play in insurer portfolios?
Speakers
S&P Global Ratings
Carmi Margalit
S&P Global Ratings
Managing Director and Life Insurance Sector Lead
Carmi Margalit is Managing Director and the Life Insurance Sector Lead for the North American Financial Services Ratings group. Carmi leads the group’s research, commentary and analytical outreach efforts on life insurance. He serves as the subject matter expert on life and annuities in North America and is one of the primary voices of S&P Global’sinteractions with the market in the sector. He directly covers a portfolio of high profile life insurers and follows the entire sector very closely.
Prior to his current role, Carmi was the analytical manager of the life and health insurance team; he was an analyst on the life team and in the structured finance group before that.
Carmi is a Chartered Financial Analyst, holds an M.B.A. from Columbia Business School and a B.A. in industrial engineering from the Tel Aviv University.
S&P Dow Jones Indices
Jennifer Schnabl
S&P Dow Jones Indices
Head of Global Fixed Income Indices
Jennifer Schnabl is Head of Global Fixed Income Indices at S&P Dow Jones Indices (S&P DJI), where she leads the strategy, production and commercialization of S&P DJI’s global fixed income products across the Americas, EMEA and APAC. In this capacity, Jennifer focuses on growing the fixed income index and ETF product set across a broad spectrum of clients including asset managers, pensions and ETF issuers. Jennifer has over 15 years of experience in fixed income, including roles in sales, strategy, business development and ETF capital markets across the sell-side and the buy-side.
Prior to joining S&P DJI, Jennifer spent several years focused on fixed income ETFs at BlackRock iShares and State Street, where she worked heavily with the liquidity provider and broker dealer community to grow and enhance the fixed income ETF ecosystem. She also held roles in fixed income investment strategy and speaks regularly on various media outlets. Earlier in her career, Jennifer spent over 10 years at Goldman Sachs in the Fixed Income, Currencies and Commodities Division, where she was responsible for developing financial solutions across credit derivatives, foreign exchange and structured credit for a range of clients including hedge funds, pension funds and reinsurance companies.
Jennifer earned an MBA with a focus on financial engineering from MIT Sloan and holds a Bachelor of Science from Purdue University.
S&P Global Market Intelligence
Tim Zawacki
S&P Global Market Intelligence
Insurance Sector Strategist
Tim Zawacki is a principal research analyst covering the U.S. insurance industry for S&P Global Market Intelligence.
He has covered the insurance industry in various capacities since joining SNL Financial in 1999. Based in Charlottesville, VA, Timauthors the annual US P&C Market Report,US Life and Annuity Market Report and various other thought leadership providing historical context and forward-looking outlooks regarding key industry trends and developments at the line of business level.
Tim has also published numerous articles and research on M&A activity in the property and casualty and life and health insurance sectors, focused on trends in the underwriting and distribution sides of the business.
Tim is a 1999 graduate of the University of Virginia.
S&P Global Ratings
Patricia Kwan
Director, Financial Services Ratings, North America Insurance
Based in New York, Patricia Kwan is a Director and a senior credit analyst in the Financial Services Ratings practice at S&P Global. Her primary analytical responsibility of a portfolio of insurers includes Travelers, Liberty Mutual, Nationwide Mutual, W.R. Berkley and Berkshire Hathaway Insurance Group. Patricia is also a regional lead involved in several criteria projects including the recent development of the risk-based capital adequacy criteria. In addition, her other activities include credit rating model developments and publications of insurance industry commentaries.
Prior to joining S&P Global in 2010, Patricia worked at Anthem corporate treasury, where she focused on investment risk analytics supporting Enterprise Risk Management framework. Her prior experience also includes corporate treasury at the General Motors Treasurer’s Office in New York, where she managed General Motor’s global FX positions and short term investment portfolio.
Patricia holds a B.A in Mathematics and an MBA in Finance and Accounting from the University of Chicago.
Moderator
S&P Global Market Intelligence
Chris Winter
S&P Global Market Intelligence
Associate Director, Insurance
Chris Winter is the North America Insurance solutions lead for S&P Global Market Intelligence. In this role, Chris helps insurance clients utilize the full suite of solutions offered by S&P, such as financial data, credit risk solutions, data feeds, and more, while specializing in the NAIC Statutory and Rate Filings products. He holds a Bachelor of Arts in History and English from the University of Virginia and an MBA from the College of William & Mary.