-
The need to secure rate increases will be countered by the financial pressures faced by policyholders.
-
The four major developments of the week include:
-
The cargo market is anticipating average 15% rate rises in 2021, compared with 20% last year.
-
CEO Richard Harries and active underwriter Toby Drysdale outline the carrier’s ambitions as it leans into the pricing cycle.
-
The broker sees the new capacity in the wider insurance sector as unlikely to enter the hull market.
-
The P&I club says it increased its market share across all other lines, including hull and energy.
-
The sector is trying to secure better underwriting terms amid a financially challenging period for shipowners.
-
The CEO said his company would be going on offense to accelerate book value growth while strong market conditions lasted.
-
Event definitions were also tightened at renewals, the broker said.
-
The two European carriers are bullish after achieving the best overall rate increases since 2018 at 1 January.
-
The carrier predicts Covid’s reinsurance impact will drive market hardening.
-
The reinsurer was chasing a high 15% net return target and said lower demand and capital trapping made this unachievable.
Most Recent
-
Navigating Complex War Risk Claims
18 October 2024 -
Marsh promotes DeWitt to CFO
18 October 2024 -
Axa XL Re makes Swiss Re’s Schiffer CEO for North America
18 October 2024 -
Daily Digest: Top news from 18 October
18 October 2024 -
Ambridge takes Mosaic’s Gofton-Salmond to head W&I in London
18 October 2024