Insurance Rate News

What is the fate of rating conditions in the coming year and how are major players preparing?

CEO Trevor Carvey said the revision reflected Conduit’s “favourable reception”.

Rates are turning negative, and the balance of power is shifting towards the brokers.

Aggregates that are featuring in the reinsurance market are not the low-attaching ones of prior years, he added.

Annual growth in demand for tax insurance ranged between 25% to 40%, sources said.

A resurgence in IPO activity may help provide new business for underwriters and reduce competition.

The CEO was responding to comments made by Chubb’s Evan Greenberg.

Overall, insurance rates fell by 1%, led by competition in property.

Aon executive Daniele de Bosini said reinforced infrastructure had mitigated the impact of recent disaster events.

The broker is discussing the potential for "smart frequency solutions" with reinsurers.

European storm Boris could have taken a much worse toll on (re)insurers, but improvements to infrastructure and underwriting standards made it less impactful than it could have been, Daniele de Bosini, strategic growth leader for EMEA at Aon reinsurance solutions, told Insurance Insider in a live video interview at Baden-Baden.

European property cat rates stabilised and, in some cases, decreased this year following corrections in 2023.