- The company Juns is based in Jupiter, Florida.
- A company based in Florida operates in Europe and Australia.
DEVK Re Assesses European Catastrophe Cover Market Against Florida Pricing
What happened
DEVK is re-assessing the European catastrophe cover market and comparing its pricing to Florida. DEVK Re's chief underwriting officer stated that while the European market is softening, it is not yet a soft market. The officer noted that pricing in the European catastrophe cover business is already close to what the reinsurer considers technically fair for the risk.
Why it matters
The market capacity is growing, which could give cedants greater bargaining power, and conditions are expected to favor buyers barring a major US hurricane landfall before January. However, the chief underwriting officer sees limited room for further rate reductions in European catastrophe cover.
Who's involved
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- FloridaSpeculative
The market price of risk transfer could signal sustained high risk costs as it is benchmarked against European rates.