February 10th, 2009

Rates Follow Exposure in UK, Little Movement

Posted at 12:50 AM ET

In the UK, catastrophe pricing ranged from -2.5 percent to 5 percent on a risk-adjusted basis, with rate changes closely linked to exposure. Deductibles were similar to 2008, and catastrophe buying was driven more by capital management considerations with reinsurance being seen as an efficient means of securing contingent capital, especially against the background of the financial crisis. Risk excess pricing was between -5 percent and flat, driven by experience rather than exposure.

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