Mark Prichard

Mark heads up NMG Consulting, and is a co-founder of the NMG Group. Across a global scope, he helps NMG's insurance and reinsurance clients with business strategy, performance benchmarking, and distribution strategies.

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Role:

CEO

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Location:

Sydney

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Industry:

Insurance | Reinsurance

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Knowledge By Mark Prichard

April 11, 2025

A matter of trust

While the age of ‘gentlemen’s agreements’ has long since passed, trust remains at the foundation of all reinsurance partnerships. It follows that trust associations of reinsurer brands offers a valuable lens on current (and future) performance.

January 30, 2025

Brand matters

Our 2024 Global Top 50 P&C Re Brand Rankings highlight the differentiated brand experience of reinsurers, offering insights into overall brand performance.

November 1, 2024

Strategies for hard markets Asia

Hard markets typically mean higher revenues and can sometimes forge leading careers in reinsurance broking. Higher bars for performance, can also raise the stakes.

April 8, 2024

Peaked or a pause?

Having lifted by >50% since 2017, the increases in reinsurance rates at Property CAT during 2024 renewals have slowed. Reinsurance buyers are divided as to what comes next, although <10% expect rates to decline at their next renewal.

November 2, 2023

Brand matters

Global brand rankings for Property & Casualty reinsurance 2023 Good brands bring competitive benefit. This is especially true in reinsurance, an industry where partnerships and capabilities are critical to outperformance longer term. A lens into brand performance Our 2023 Top 50 global brand rankings for Property & Casualty reinsurance offer insight into overall brand performance. Rankings have been derived from factors that include […]

March 8, 2023

Global Trends & Performance

Our global perspectives on the P&C reinsurance industry are drawn from the feedback of more than 2,000 insurance executives and reinsurance brokers (P&C Re Study 2022; February-June 2022) as well as our broader industry activity and networks.

November 21, 2022

Outsized capabilities, outsized impact

The effects of climate change are increasingly evident. Who better than re/insurers – blessed with the advantages of data, expertise, and balance sheets – to play an outsized role in driving broad-based adaptation to changing global climate, as well as the transition to net zero?

October 31, 2022

Trends & Performance | 2022

Key themes Global overview The rising relevance of climate What insurers want Growth returns, for insurers Continued tailwinds, for reinsurance brokers Reinsurance rates to rise further Global overview As if modernising technology platforms and going digital were not themselves sufficient challenges, the insurance industry currently faces a particularly uncertain environment, involving: Rising risk exposures, both […]

October 10, 2022

Pricing strategies for an emerging normal

Medical schemes generated excess reserves during the pandemic, most intending to return these to members in future years. The approach taken to giving back by individual medical schemes could significantly impact their near-term competitiveness and sustainability.

September 14, 2022

The cascading benefits of good strategy

That institutional customers would look for long-term relationships with ‘good partners’ is both intuitive and uncontroversial: broadly, and across industries. Less well appreciated perhaps is that core to successful long-term partnerships is a well-formulated, effectively communicated strategy.

June 9, 2022

Broker brand power

Brand awareness of the largest reinsurance brokers is near ubiquitous among insurers (and reinsurers), although institutional focus and capabilities, corporate personality & culture as well as customer engagement models offer critical differentiators beyond awareness. Sustained levels of differentiation inevitably become visible in 'brand experience'.

February 7, 2022

Brand matters

Updated global brand rankings Property & Casualty Reinsurers, 2021 (including Specialty Lines)

November 29, 2021

Delicately balanced

Medical schemes in South Africa face the challenge of correctly anticipating rebounding claims costs, but also deteriorating trends in membership and mix.

October 28, 2021

Readying to Rebound

A focus on growth is the logical post-pandemic response for South African insurers, strategies for which will require active support across the value chain, particularly from reinsurance partners.

March 18, 2021

Increased opportunity meets rising opportunity cost

It has been a long time since prospective margins in US Commercial Lines look as attractive as they do currently, although this does not mean that they will be easily secured or evenly distributed.

March 10, 2021

Reinsurance Reloaded

The collective investment being made in transforming the life insurance proposition exceeds anything seen in the last thirty years – a working lifetime.

January 29, 2021

Market Trends | Competitor Performance 2020

Rises in reinsurance rates were reported consistently at renewals throughout 2020, building further on rate increases achieved since 2017.

November 17, 2020

Doubling down on successful partnerships

The insurance industry in South Africa is doing its part in responding to a 1-in-100-year global event. While the path out of the Covid crisis is long and uncertain, the successful functioning of key partnerships within the industry is making a real difference. Resilient and resolute While pandemics typically occur every decade or so (think […]

October 30, 2020

Leading engagement models set to deliver competitive advantage in advised life insurance

The pandemic has significantly and broadly impacted the US life insurance industry. Traditional advisor networking has been disrupted, insurers have had to demonstrate greater responsiveness and flexibility in underwriting and embrace a more digital approach. Reinsurers have had to be proactive and flexible while maintaining standards for risk acceptance and claims support. In short, the […]

February 26, 2020

About Leading and Following

Necessarily different and somewhat Darwinian. The intensity of competition within the P&C reinsurance market has compelled reinsurers to develop genuine sources of competitive differentiation to survive. The markets of the US and Canada provide many clear examples, illustrated by the results of NMG’s Flaspöhler Study (2019). Active versus Passive It’s fair to say that the […]

August 23, 2019

The Innovation Imperative

The level of collective investment focused on transforming the life insurance proposition exceeds anything seen in the last thirty years – a working lifetime. Insurers have put significant focus on wellness innovation while the boldest among the insurtech field have focused on holy grail itself hacking the life insurance distribution model. Customer engagement and […]

March 23, 2019

Reinsurance Broking: Is two too few?

Is two too few? M&A strategies in the primary P&C broking segment often have unintended ramifications upstream. And, on occasion, industry segments can become over-consolidated. In the case of reinsurance broking, two global giants would likely be too few, potentially pushing insurers to seek out new reinsurance broking partnerships in response. Maybe. Save the biggest […]

Mark Prichard

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