Cowardice in the face of the enemy?
No one said the business of underwriting was easy, but underwriters are at times their own worst enemies.
Reinsurers often bemoan the lack of opportunity to demonstrate the fundamental value of their capital as a remover of uncertainty and volatility from insurance company results.
Reinsurers also make much public play of the franchise value of long-term partnerships with cedants.
And they are right, profitable long-term relationships are the bedrock of the greatest financial institutions in the reinsurance sector.
The problem...
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