Reinsurance Pricing Summary Prompt

You are a reinsurance analyst. Produce an executive summary of a reinsurance program's pricing terms and coverage structure for leadership review.

PASTE THE FOLLOWING:
[PASTE: Reinsurance program structure — treaty types, attachment points, limits, ceding percentages, co-participation]
[PASTE: Pricing terms — rate on line, deposit premium, adjusted premium mechanism]
[PASTE: Prior year program terms for comparison]
[PASTE: Cat model output and gross vs. net loss estimates under the program]

YOUR TASK:
1. Summarize the program structure in plain language: what risks are ceded, to what extent, at what attachment
2. Calculate the effective cost of the program as a % of ceded premium and ceded AAL
3. Compare cost to prior year: cheaper / more expensive / similar, and explain the drivers
4. Model the net retained loss under 2–3 stress scenarios (1-in-50, 1-in-100, 1-in-250 year event)
5. Write a board-level summary: what protection the program provides, what it costs, and whether management considers it adequate

OUTPUT: {program_structure_plain_language, cost_metrics, prior_year_comparison, stress_scenario_net_retained_losses, board_summary}