Hamish Dowlen, Senior Vice President
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2008 Reinsurance Market Position

The Czech Republic has sufficient excess of loss catastrophe capacity available. Competition was quite strong during the renewal, although the reinsurance market remained harder than had been expected originally. The purchase of one major group program for the entire Central and Eastern European (CEE) region was transferred to Prague for the 2008 renewal, resulting in an increased focus on the Czech catastrophe market. However, two of the largest insurers in the market continue to be protected against natural perils within their parent companies’ group programs, which are purchased from outside the Czech Republic. In the non-life line, the top five companies comprise 85 percent of the market.

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