Significant storm losses in Austria, notably windstorms Emma and Paula, pushed pricing for catastrophe programs up by approximately 10 percent. Capacity was limited, especially for aggregate covers, which remain a typical component of many Austrian insurers’ programs. Central and Eastern European programs were also renewed at increased prices in the range of 5 percent to 10 percent, though lower layers sustaining Emma losses paid an extra 10 percent or more in some cases. Capacity for Romanian earthquake was in great demand, as exposure had grown significantly for many cedents in the preceding year. Capacity for the entire region was less plentiful than in 2008, and reinsurers were stricter with their pricing requirements, leading to some under-placement or last-minute re-pricing.
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