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Member, Beacon International Group, Ltd.
Johan Cavanagh, global chief executive of U.S.-based Willis Re Inc., said that capital markets reinsurance players maintained an "aggressive posture" on pricing at the April renewals as insurance-linked securities capacity continues to demonstrate its cost-efficiency, Artemis.bm reports. "Capital markets are now often prepared to price more competitively for peak zone catastrophe risk and there is currently a differentiation in the pricing of catastrophe bonds compared to traditional markets," Mr. Cavanagh said. These newly found price marks are enabling ILS funds to take increasing shares of some traditional reinsurance programs.