Property cat reinsurance “not as much fun as it was”
Wednesday, 05 06 2015, Category: Insurance and Reinsurance, Country: World
With the current softened state of reinsurance rates and competitive pressures from well-capitalised reinsurers and growing insurance-linked securities players, the property catastrophe reinsurance market is “not as much fun as it was,” according to Aspen CEO Chris O’Kane.
The property catastrophe reinsurance space has become the peak zone of competition and pressure for global insurance and reinsurance companies, such as Aspen. In many cases this has led to a continued pull-back on the amount of capacity being allocated to property cat, Aspen has been among those redeploying capital in a search for better priced business to underwrite.