Charging Peter to pay Paul

The latest January renewal season provided buyers of reinsurance with some welcome signs of a return to pricing stability in the market. Over the past 12 months high premium increases have led buyers to increase retentions and place an increasing amount of business in captives. But reinsurers are under greater pressure from shareholders and rating agencies to improve their bottom line, according to Charlie Cantlay , deputy chairman of Aon Reinsurance UK.