September 10, 2012 - Munich Re America's John Vasturia, President, Regional Clients, joined A.M. Best analysts and others at A.M. Best's State of the Global Reinsurance Market 2012 webinar held 7 September 2012.
The discussion focused on developments among the world's reinsurance markets, including emerging markets like Brazil and Africa. Panelists also discussed, among other topics, A.M. Best's stable outlook for the reinsurance sector, catastophe modeling, and the impact of pricing discipline on capacity.
While panelists agreed that there is generally adequate capacity for property catastrophe program needs, buyers must understand that such capacity comes at more sustainable prices than in the recent past as reinsurers, in general, demand adequate prices for the risks they assume. "The question you have to ask yourself constantly is," Vasturia pointed out, "are you getting the proper premium for the risk that you take?"
Philip Campbell, of BMS Intermediaries, added that buyers expecting less than risk-adequate prices typically required by today's reinsurers risk falling short in coverage for their property/catastrophe programs.
For more market observations from John and the other panelists, access the webinar at no charge by registering at http://www.ambest.com/webinars/reinsurance12.