HVRRF - Reinsurance Uninspiring Inadequately Priced Risks Being Underwritten: A.M. Best
Pricing and profitability in reinsurance remain uninspiring following the January 1st renewals, but that doesn't stop some larger players from soaking up business at inadequate prices, according to rating agency A.M. Best.
We've discussed the fact that major reinsurers are underwriting diversifying regions, or regions they want to remain dominant in, at rates well below where insurance-linked securities ((ILS)) players can compete, numerous times over the last few years.
It's been a factor of the reinsurance market's renewal dynamics for almost two decades, perhaps more, and this practice goes a long way to explaining the