Concerns about momentum slowing in the wider US P&C market
and the stalling economy mean the much hoped-for lift-off in
surplus lines pricing is likely to be delayed.
Historically, when the US P&C industry moves into the hard market phase of the cycle, E&S carriers benefit from a significantly greater surge in top-line growth than the broader market.
Click to enlarge The pattern is evident in the graph right, based on AM Best data tracking a US domestic professional surplus...
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