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Rate pessimism prevails in London market
10 April 2018
London market executives have expressed disappointment at the lacklustre rate rises underwriters have been able to achieve following the 2017 catastrophes, as continued overcapacity has served to drown out hard market sentiment.
Executives canvassed by The Insurance Insider have expressed frustration at the muted rate increases seen at the 1 April renewal, which in some instances were less than those achieved at 1 January.
Many active underwriters said they were able to achieve an average rate increase in the mid-single...
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