Underwriters said rate rises of 20 percent plus were needed, with some pushing for hikes of as much as 70 percent.
They face a Herculean task but the two start-ups could break the stranglehold of MMC, Willis and AJG in the aviation market.
The chairman of the EU insurance supervisor warned that (re)insurers cannot shoulder systemic cyber incidents alone.
The Insurance Insider’s Market Sentiment Survey, in association with EY, found that the majority of market figures think growth will be difficult to sustain.
Financials show recent results driven by leverage and lower quality earnings improvement.
The firm’s 2015 Atlas cat bond has triggered, following loss creep from the 2017 hurricanes.