The renewals season was relatively stable in the CEE countries, with very little change in excess of loss pricing (XOL) on risks without losses. Average rates for XOL property cat risks with losses rose by 5 percent to 10 percent. Average rates for XOL Motor Liability and General Liability risks with losses were generally flat to 5 percent higher. Risk XOL business was under heavy pricing pressure due to the strong availability of capacity in the market and the generally benign loss experience of recent years. For catastrophe excess of loss lines there was pressure from the market to increase retentions as frequency has increased.
There remains an ample supply of capacity for CEE business, with the exception of the lowest layers of some catastrophe programs, particularly those covering Austria, Czech Republic and Slovenia, which have been experiencing regular frequency losses in recent years. Non-loss affected business attracted sufficient capacity at acceptable terms, although there was still a disconnect between the pricing expectations of the Anglo-Saxon and the Continental European markets. Reinsurers generally maintained line sizes on renewal business.