Opinion: The slow grind

Those calling a turn in the P&C pricing cycle can usually
agree on one thing: it takes more than a heavy cat year on its own
to bring a broad upward shift in rates.
And the industry's experience in 2017 was evidence enough of
that, as arecord $144bn of global insured cat losses (according to Swiss
Re) did little to significantly move property pricing, let alone
bring about meaningful hardening in other lines of business.
Instead, beyond the most...