do you know how much you are paying?
Asian reinsurance contracts tend to be long-term and a treaty where you pay a premium of USD2m pa may well have a PV of future premiums of USD80m. A small saving here is material.
when and how did you last review your reinsurance rates?
I know from experience that many reinsurance marketers are not technical. The competitiveness of the terms you receive from your reinsurer is therefore often down to how aggressive the pricing actuary is.
What could you do differently?
I recommend providing more information to the reinsurer. This will enable them to have a better feel whether the rates they are submitting are in line with what you are looking for. It will also give the pricing actuary the confidence they are quoting with complete data.
Share your historic experience in a clear and usable way and tell them all the good things you are doing which will benefit the future experience. This should also improve turnaround times.