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Can reinsurers discuss capacity?

No. Reinsurers should not discuss specific capacity in GRA meetings or rooms. 

Capacity discussions may include how much reinsurance a reinsurer may provide, where capacity is available, what structures it may support, what limits it may consider, what attachment points it prefers, what perils it will cover, what treaty terms it may accept, or whether it has appetite for a particular portfolio. 

Such discussions can create market-signalling, competition, confidentiality, and overclaiming risks. 

GRA may discuss reinsurance relevance in a general learning context. For example, participants may discuss why certain systemic risks, catastrophe exposures, sovereign disaster risk, or public-private risk-sharing structures raise reinsurance questions. They may also discuss the kinds of evidence that downstream reinsurance review typically requires. 

But no one should treat GRA as a place to obtain reinsurance capacity indications. 

A safe statement is: 

This topic may raise reinsurance-relevant questions, but no capacity, pricing, treaty support, or reinsurer appetite is being discussed or implied. 

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