Sapnar warns reinsurers on mispricing in many lines

Multiple classes of reinsurance business could technically be
underwater because initial accident year industry loss estimates
"by and large are below where they'll turn out",
according to TransRe president and CEO Mike Sapnar.
Even though ceding commissions have hit the wall, the underlying
business in general is "poorly priced", Sapnar warned
during a panel discussion at the Standard & Poor's Global
Ratings conference today in New York.
Sapnar highlighted directors' and officers' (D&O)