While there are differences between the current soft market and previous ones, some destructive behaviors just never seem to change, a group of reinsurance actuaries suggested at a recent seminar.
Listing market pressures for reinsurers that distinguish the current soft market, Elizabeth Mitchell, president of Platinum Underwriters Reinsurance in New York, noted that ceding companies are increasing retentions, and that the reinsurance market seems harder than the primary market.
That's “not typical of previous soft markets,” she noted during the recent Casualty Actuarial Society Seminar on Reinsurance here, referring to a more typical, earlier slide in the discipline of reinsurers.
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