It was great to see so many of the direct and facultative fraternity gathered in Monte Carlo this year, doing the rounds in what, even for the principality, was especially hot weather.
In the run-up to this year's roundtable one issue really seemed to dominate the thinking of those in the market, namely who's buying? Of course the take-up of fac has been a concern for brokers and underwriters alike for as long as anyone can remember, especially given the traditional trading basis of many facultative covers. Yet this year the issue loomed especially large. As we entered the start of the fourth quarter, worries over increased retentions among insureds and a less than enthusiastic take-up of the product than expected by some continued to plague thinking.
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