Property

For some time now, property has been doing the heavy lifting around growth and rate rises in E&S.

Next year will see North Atlantic hurricane activity about 30% above the 1991-2020 30-year norm, according to Tropical Storm Risk.

The commercial lines market is generally rational and disciplined, the CEO told analysts at the Goldman Sachs 2023 US Financial Services Conference.

Cat-exposed accounts will still face higher rates and more restrictive terms, however, as carriers continue to manage their aggregate, according to Amwins’s “State of the Market 2024” report.

Nancy Woode and Erinn Pearson most recently worked at McGill and Partners and will be based in Aon’s Atlanta office.

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Issues over reinsurance pricing and capacity continued to plague commercial property.

The ratings agency said premium rate increases for specialty lines would be most pronounced in political risk, terrorism and political violence lines because of heightened geopolitical tensions.

RPS said higher excess layers in the E&S property sector are still seeing increases north of 50% while primary and lower buffer layers are seeing average increases of 10%-15%.

Everest is targeting a combined ratio of 89%-91% for 2024-2026, compared to the 91%-93% target range from its previous investor day event in 2021.

Aon-owned Mexican cat modeler ERN estimated Otis insured wind losses, excluding auto and infrastructure, at $1.2bn-$1.8bn.