If you want to know what's really happening, ask a broker

MG: What are client expectations like going into this renewal? Are they segmented around the world?SG: I think it is very varied. 'Segmented around the world' is definitely the right description. You have to look very carefully at which territory and which class you are talking about. You tend to come here and hear a lot about a hard market and a lack of capacity, and it's very US catastrophe-exposed-oriented.Whereas, in reality, if you're talking about European motor business or Asian catas