QBE Re's Luc BOGHE, head of European multiline, said there is evidence the economic crisis is not necessarily entirely negative for insurers.
In a difficult economic crisis, you see people using their cars less than before because fuel prices are too expensive. The frequency of claims is coming down.
A motor insurer in Greece - one of the countries hardest hit by the economic crisis from a technical point of view sees that underwriting results have never been better.
On the other hand the economic crisis presented a tougher challenge for risk carriers in the property arena, increasing the likelihood of fraudulent claims.