-
Evan Greenberg addressed questions about property cat reinsurance on a Q1 earnings call. -
This was the highest single-year increase for the US index since 2006.
-
The executive noted that the quarter marked the 21st quarter of rate increases.
-
Only D&O and workers’ compensation clients experienced price decreases during Q3, according to WTW.
-
The broker said a dearth of IPOs had created a “buoyant environment”, with both start-ups and incumbents competing.
-
The company will fund the raise from surpluses following bancassurance exits.
-
Inflation and a full post-pandemic return to shipping are expected to impact future claims.
-
The risk is increasing of some cedants ‘running naked’ in early January as the market faces a ‘horrendous bottleneck’ of negotiation ahead.
-
While competition is picking up, a likely rise in claims during a recession is likely to prevent a return to a soft market.
-
Rates began falling at the mid-year but loss activity has changed the mindset of underwriters.
-
Rate rises were anticipated by brokers amid inflation and investment market volatility.
-
The Corporate Risk and Broking head of global lines of business said staff and client attrition has been reversed – and cast doubt on predictions of further specialty market hardening.
