Cavanagh said: "Solid analytical advice and market knowledge through intermediation is needed now more than ever."
Also speaking at the event, Tony Ursano, CEO of Willis Capital Markets & Advisory, said that he expects a very active capital markets and mergers and acquisitions (M&A) environment for the remainder of 2013 and going into 2014.
Ursano said: "On the capital markets side, we expect a very active cat bond calendar, including new and renewal sidecar financings, additional activity around new insurance-linked securities fund formations and strategic partnerships, as well as more new hedge fund sponsored reinsurers.
"We expect activity in the insurance M&A arena to be robust, driven by a number of factors. These include increased CEO and board level confidence derived from higher public valuations, a continued focus on growth, scale and diversification, private equity involvement as both buyers and sellers, and the gradual consolidation of the reinsurance sector driven in part by third party capital involvement."
About Willis Re
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About Willis Capital Markets & Advisory
Willis Capital Markets & Advisory, with offices in New York, London and Hong Kong, provides advice to companies involved in the insurance and reinsurance industry on a broad array of mergers and acquisition transactions as well as capital markets products, including acting as underwriter or agent for primary issuances, operating a secondary insurance-linked securities trading desk and engaging in general capital markets and strategic advisory work.