Tianjin loss may help moderate reinsurance prices at 1/1
Saturday, 10 24 2015, Category: Insurance and Reinsurance, Country: Asia
The insurance and reinsurance industry loss from the Tianjin port chemical storage facility explosions in China could help to moderate price declines at the all-important January reinsurance renewal season, according to J.P. Morgan Cazenove analysts.
The analysts suggest that as a result of the exposure faced by some of the world’s largest reinsurance firms the market may find it can hold up pricing at the 1/1 renewals better than had been expected.
This is particularly interesting, as just this week in Baden-Baden reinsurance broker Guy Carpenter said that it believes that reinsurance pricing could decline by double-digits, higher than had been anticipated just a few weeks ago at the Monte Carlo Rendez-vous.