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It is understood that Marsh brokered the tower, which is exposed to claims from a 2024 breach. -
The investment recovery will be welcome but Chinese tariffs will contribute to loss-cost inflation.
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A positive outcome could significantly curb insurers’ exposure to the loss.
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Storms in the UK and Ireland drove losses in the commercial segment.
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Softening in the upstream market has also accelerated beyond expectations.
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A survey from the carrier looked at the political risk and violence concerns of companies.
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Trade credit and marine are among the lines facing direct impacts amid a broader inflationary challenge.
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Despite wildfires, reinsurers are “well positioned to maintain strong profitability in 2025”.
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The prediction comes after a highly active hurricane season in 2024.
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The tariffs could expose insurers to the risk of recession and shrinking income.
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The combined ratio improved by 1.9 points to 94.7%.
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Lloyd’s has been likened to a “toothless tiger” in its crackdown efforts.
