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While aggregate premiums grew by 1.5x between 2012 and 2021, annual expenditure at Lloyd’s on salaries and other employment costs has doubled. -
Sources in the market estimated the average risk-adjusted rate increase at the 1 June renewal at around 5%, with a similar trajectory expected for 1 July accounts.
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Competition for business is leading to a rollback in exclusions written into contracts following major loss activity.
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The forecast range of hurricanes is slightly wider than in 2021, but in line with 2020.
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As momentum builds for greater transparency on ESG and net-zero transitions across the insurance ecosystem, brokers are entering an evolution.
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Sources close to the industry are calling for litigation reform as a priority, while Florida Hurricane Catastrophe Fund expansion is also on the cards.
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Ukraine uncertainties remain despite some loss estimates emerging in Q1 earnings across the Big Four European carriers, while inflation looms on the horizon.
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Recent start-ups have recorded annual underwriting losses about 80% of the time, Insurance Insider analysis shows – even after becoming established.
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It is understood that the Marsh and Aon Alpha facilities are those with the most exposure to the war in the Ukraine.
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Swiss Re goes against the tide in expanding in cat, while specialty rates appear to be holding up better than expected.
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A second setback to the delivery of PPL’s Next Gen’s platform has triggered questions among firms about confidence in any new timeline.
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Rates are experiencing a slow taper but eventual Ukraine claims figures are difficult to gauge.
