Reinsurance market is hardening rather than hard, says S&P

The current reinsurance market is hardening but is not yet a truly hard market, according to S&P Global Ratings. It said the market has been affected by continued loss creep from the 2017 and 2018 catastrophes. “Following disappointing reinsurance pricing increases in 2018 and early 2019, it seemed that no amount of catastrophe losses would be sufficient to harden the…

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