ALLIANZ RE BACKS UP PREDICTION OF "STABLE" PRICES

Prices for natural disaster reinsurance will probably remain stable for the January 1 renewals, according to Clemens von Weichs, head of Allianz Re. Speaking in Baden-Baden, where the industry gathers each October to discuss terms, he said that coverage for European windstorm was not at the moment seeing a great change in levels of demand. "We have no doubt that a windstorm causing claims of as much as €40bn ($56bn) is a realistic scenario", said von Weichs, noting that values and repair costs had risen.