Retro markets turn on Thai loss expectation
The developing Thai flood loss has proved "the straw that broke the camel's back" for the retro market, signalling a hardening environment and a 1 January renewal that will match the reinsurance market for its difficulty and lateness.
This was the view of a leading retro broker, a sentiment that has echoed around the market as buyers and sellers point to increased retentions and significantly higher prices for the standard ultimate net loss (UNL) product.
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According to...
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