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Allianz Re CEO says rate reductions may abate in 2015

Rates charged by reinsurers, which have been falling for most of the past decade, may decline more slowly this year, the head of Allianz SEs reinsurance division said.

By Oliver Suess, Bloomberg | Updated on January 21, 2015
Amer Ahmed, CEO of Allianz Re.

(Bloomberg) — Rates charged by reinsurers, which have been falling for most of the past decade, may decline more slowly this year, the head of Allianz SE’s reinsurance division said.

“Our assessments show that rates in some parts of the market are reaching a level where they don’t seem sustainable and don’t justify the risk-reward,” Amer Ahmed, chief executive officer of Allianz Re, said in an interview in Munich. “In January, some programs had to be re-priced to keep reinsurers from walking away. That shows that we are reaching a point where economics prevent further significant price reductions.”

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