Downstream losses of $7bn+ wipe out global premium in 2022: WTW
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Downstream losses of $7bn+ wipe out global premium in 2022: WTW

Samuel Casey
04 April 2023
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Losses in the downstream energy space exceeded $7bn in 2022, more than double the total global premium income of $3.4bn in the class of business, according to WTW.

In its latest energy market review, WTW said market conditions had turned away from buyers in favour of insurers, given the loss activity, reinsurance conditions, a lack of meaningful new entrants, and increasing scrutiny from senior underwriting management.

WTW

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Samuel Casey
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