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Certain new and old themes will re-emerge this year as the balance of power shifts. -
Supply generally exceeded demand and trading relationships were ‘strong’, CEO Tom Wakefield said.
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CEO Trevor Carvey said the revision reflected Conduit’s “favourable reception”.
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Rates are turning negative, and the balance of power is shifting towards the brokers.
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Aggregates that are featuring in the reinsurance market are not the low-attaching ones of prior years, he added.
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Annual growth in demand for tax insurance ranged between 25% to 40%, sources said.
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A resurgence in IPO activity may help provide new business for underwriters and reduce competition.
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The CEO was responding to comments made by Chubb’s Evan Greenberg.
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Overall, insurance rates fell by 1%, led by competition in property.
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The broker is discussing the potential for "smart frequency solutions" with reinsurers.
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Aon executive Daniele de Bosini said reinforced infrastructure had mitigated the impact of recent disaster events.
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European property cat rates stabilised and, in some cases, decreased this year following corrections in 2023.
