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Casualty underwriters were taking a “conservative and selective approach” with high-risk categories and accounts with poorer loss histories. -
Reinsurers are more bullish about their prospects than they have been in years, but start-up and ILS fundraising is a desert.
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With pricing decelerating and loss-cost trends potentially reversing, regionals should continue to execute on their present strategy.
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The broker sees rising costs pushing more careful underwriting and rate rises across multiple business lines for the rest of 2022.
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In a growing number of wildfire-prone areas, capacity is a challenge even as premiums and deductibles spike.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The MGA writes management liability, professional indemnity, crime and cyber risk.
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Reinsurer capital fell 8% in Q1 to $645bn on the back of mark-to-market losses, as nat-cat capacity contracted materially for the first time since the 2004-2005 hurricane season.
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Alaska National’s Wayne Bryan will lead the new venture.
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Commercial auto, hospitality, public entity and higher ed are among the sectors seeing continued rate hikes and limited capacity, according to CRC Group.
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On the property side, the costs for rebuilding a structure continue to climb and could prove to be prohibitive.
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Although P&C insurers had 9% premium growth, the underwriting loss in 2021 follows a $4.4bn underwriting gain in 2020.
