On the other hand it appears that the international reinsurance market has worked as we would hope, bearing in mind that we have now suffered a series of insurance “events”. Following the Canterbury earthquakes there have been both temporary and longer term changes in the insurance market.
Peter Praet: Keynote speech at the Paris Europlace International Financial Forum Keynote speech by Mr Peter Praet, Member of the Executive Board of the European Central Bank, at the Paris Europlace International Financial Forum, Paris, 9 July 2014. *  *  *  I would like to thanks Jan Hammermann und Arthur Saint-Guilhem for their contribution in the preparation of this speech.