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The CEO was responding to comments made by Chubb’s Evan Greenberg. -
Overall, insurance rates fell by 1%, led by competition in property.
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Aon executive Daniele de Bosini said reinforced infrastructure had mitigated the impact of recent disaster events.
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The broker is discussing the potential for "smart frequency solutions" with reinsurers.
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European property cat rates stabilised and, in some cases, decreased this year following corrections in 2023.
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Continental cedants are looking for support for third and fourth events.
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CEO John Doyle said global property rates were down 2% versus flat in Q2.
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Contrary to expectations that US casualty would dominate the conversations, Milton took the spotlight.
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Pricing expectations are still not aligned on higher-risk coverage options.
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The ratings agency said the global reinsurance sector is in “an even stronger position than a year ago”.
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The rate change will be implemented in November.
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Lancashire was the only carrier to see double-digit growth in insurance revenue for H1.
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