The first step in bringing new property-cat reinsurance specialists from their core market of the US to Europe could be an added dose of contract clarity, something reinsurers might feel they have had in greater quantities elsewhere.
That is what cedants could hear from underwriters Tom Orton and Giovanni Maccioni when they sit down for Baden-Baden speed dates this year with Ariel Re. They come to the German resort with a taste for property-cat and they have room in the book for more European risks.
“Europe is small for the moment for us,” Maccioni told Baden-Baden Today. “We think the conditions are not there yet. We are telling our clients that we need to see a change in terms and conditions and price.”