Reinsurance renewal negotiations continue, but we’re told some placement proposals delivered for market feedback are receiving short-shrift, with carriers’ pushing back and asking for more rate.
We’ve now heard from sources about a number of cases where reinsurance program renewals are getting sent back, with brokers and cedents being asked to sharpen their pencils, on the pricing and terms.
Interestingly, this is also happening on reinsurance towers where loss activity has not been particularly heavy, or where they have even been loss-free, we understand.
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