Property catastrophe reinsurance rates are not so bad
Wednesday, 05 20 2015, Category: Insurance and Reinsurance, Country: World
While property catastrophe reinsurance pricing is generally accepted to be the line of business that has suffered the steepest decline in rates, the current prices are still attractive and in fact better than insurance on a risk adjusted basis.
That’s according to insurance and reinsurance firm Argo Group’s CEO Mark Watson, who discussed the rate environment recently during an earnings call, saying that Argo still prefers its property catastrophe reinsurance portfolio over a primary insurance equivalent.
“We really like our property catastrophe reinsurance portfolio and the rate that we’re getting, on a risk adjusted basis, as a reinsurer versus a primary insurer for property cat is still better,” Watson explained.