It has been a sponsors' market in 2016, with undersupply meaning reinsurers have been able to exceed target sizes and secure favourable pricing.
But the dynamic shifted considerably throughout the year - in the first quarter some sponsors had to pay up compared to previous deals.
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Aetna had to pay a higher premium for this year's
Vitality cover than for the 2015 transaction, as did State Farm for
its low-risk New Madrid earthquake bond - with a...
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