Nicolas Papadopoulo, CEO of Arch Capital Group Ltd., said last week that the current, more competitive part of the reinsurance cycle is to be expected, and despite softening in property and challenges in casualty, it is still a favourable trading environment. Given the softening property reinsurance market environment, it’s not surprising to see players like Arch trim their books and walk away from business that doesn’t meet desired return hurdles. At the same time, the lower cost of reinsurance could see some reinsurers like Arch purchase more retrocession. Papadopoulo continued: “I truly believe that the market that we are trading in is a favorable market. But in terms of index, our view is that we’re still above the prior Hurricane Ian rate index,” said the CEO.