CERTASIG: We can even benefit of small reductions in this renewals season
 The renewals season, that will be marked this year, too, by the
negotiations during Baden - Baden Meetings, are not a reason to worry
for the Romanian insurers. Moreover, some of them do not exclude the
option to pay less in 2012 for reinsurance.
"The price of reinsurance corresponding to areas not affected by catastrophes will remain stable, despite the reinsurers' wish to capitalize the suffered losses. As competition among reinsurers is still fierce, we can have the surprise to benefit of small reductions, justified in case of clean and stagnant portfolios. In fact, the market in Romania should not be significantly affected by the impact of the catastrophes in Japan or New Zealand", said James GRINDLEY, CEO of CERTASIG Asigurari.
"Let's not forget that there is still a very high capacity on the market, despite these catastrophes, and the tendency of reinsurers is to focus especially on the recovery of losses through more aggressive underwritings, to the detriment of price increases", he continued.
According to declarations of CERTASIG official, most of the premiums ceded in reinsurance by the company correspond to the Marine portfolio, followed by Bonds, Property & Casualty and Aviation. The reason is that the volume of underwritings registered on these classes had an upward and proportional trend, and the expectations for 2012 are that this structure be maintained.
CERTASIG will be present at the Baden - Baden Meetings and, at the same time, is Partner of Baden - Baden XPRIMM Reception, an event that will take place on Sunday, October 23rd.
Author: Oana RADU
on 18.10.2011
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