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The CEO predicts that the carrier's own expansion will be among the fastest of any year since the early 2000s. -
The polarisation of views on Covid losses is so wide, and the sums at stake so large, that it is inevitable some reinsurance claims will end up in arbitration processes.
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The mooted changes would impact entrepreneurs and private equity business models.
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The Hammerfest loss is thought to be ~$500mn and well spread around the market.
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The German carrier says P&C gross written premiums expanded 3% to $27.3bn in the period.
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Rates surge as much as 300% on distressed risks as underwriters seek to rebuild profitability.
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London Market Life panellists say underwriting remediation and modernisation efforts must continue.
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The 1 January renewal will be a battle for the biggest slice of post-Covid upside.
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Headline growth is the highest since the broker’s index began, amid price increases in every region for eighth consecutive quarter.
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The CEO reports “forward momentum” after recording strong rate and GWP growth.
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The broker reports a hardening in all major US lines but high levels of uncertainty.
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This is just 26% of theoretical capacity of $3bn and has led to major clients self-insuring parts of their programmes, according to Willis.
