Once more we decamped to the south of France for the wonder that is the Monte Carlo Rendez-Vous and the fac market was able to pitch its very own tent amidst the treaty encampments.
And much to my delight there were quite a few of us down there again, flying the fac flag. It goes without saying that it was fabulous to see so many of you there and to have another stimulating Roundtable in what is becoming something of a fixture.
In the run-up to last year's Roundtable, by far the dominant issue was cedants' reduced appetite for facultative reinsurance, with some of the biggest players in the market - especially in continental Europe - dramatically reducing their fac spend or electing not to buy altogether.
I'd like to pretend that these anxieties have diminished somewhat this year, but the reality is that this is proving to be a difficult period for our market, with retentions on the increase, many players deciding to write net and the treaty market making ever greater incursions into areas that were once exclusively for fac.
To access the 2012 Inside FAC Monte Carlo Roundtable please click here.
Enjoy the read,
Marcus Alcock,
Editor, Inside FAC