Major reinsurers in 2010 will raise rates for property reinsurance

Posted by DeXtR at 3:13 AM | Labels: , , ,
World's largest reinsurers - Munich Re and Swiss Re, will be difficult to justify the planned increase in the cost of property reinsurance in 2010 in the absence of large-scale disasters.

Writes "Finance." citing Agency Bloomberg, since September reinsurers began discussing the extension of contracts with customers for the next year. In 2008, he "helped" hurricane Ike - damage in Texas cost the insurance industry about $ 20 billion, resulting in reinsurance rates have jumped by about 8% this year, after declining during 2007-2008. This year, to the coast of the USA has not yet reached any such large-scale hurricane.
Acheter Soma


Acheter Celebrex

Acheter Celexa


Acheter Effexor


Acheter Levaquin


Acheter Desyrel


Acheter Nexium


Acheter Acomplia


Acheter Synthroid


Acheter Clomid


Acheter Lexapro


Acheter Viagra Brand

Acheter Deltasone


Acheter Viagra + Cialis + Levitra


Acheter Cipro


Acheter Kamagra


Acheter Nolvadex


Acheter Lasix


Acheter Zithromax

Acheter Levitra
"Reinsurers will be difficult to prove the need for substantial tariff increases for next year, as hurricane season in 2009 was extremely quiet - said Markus Engels from Allianz Global Investors. - I expect stability or modest growth rates in the next year."

Another constraint on growth rates in the area of reinsurance, a rally in the stock market: in March a consolidated MSCI World stock index rose by 52%, which allowed insurance companies to replenishcapital, said Moritz Remann of DJE Kapital AG.

Share Capital 6 largest insurance companies in Europe - German Allianz, France's Axa SA, the Italian Assicurazioni Generali SpA, the Swiss Zurich Financial Services AG and Britain's Prudential Plc and Aviva Plc - rose by 3% in January-June 2009. Last year, the market capitalization of these companies fell by 23%.

"Insurers are no longer rely on the mercy of reinsurers as it was a year ago - said an analyst at Collins Stewart, Ben Cohen. - Third quarter, it seems, will also bring improvement.

About two-thirds of the treaties in the sphere of property reinsurance renewed in January, the rest - in April and July.

Munich Re expects to increase rates by at least 3-5% to compensate for lower interest rates around the world, said in the June, Chief Financial Officer Joerg Schneider. However, at present the company is no longer hoped for a similar rise in the cost of reinsurance.
Wednesday

0 comments:

Post a Comment

Subscribe to: Post Comments (Atom)