Renewals
-
While official return to office mandates have gathered steam, what they look like in practice can vary widely. -
In the US, the index fell 6.7% year on year.
-
Marsh’s property book saw an average decline of 9% in Q1, a trend that appears to have continued through Q2.
-
The January wildfires did little to hamper their appetite, apart from California.
-
Elevated cat losses in H1 weren’t enough to stop a further softening of the market.
-
The transition will be implemented starting October 15.
-
The soft market continued through H1 2025, especially on shared programs.
-
The LA wildfires accounted for 59% of loss activity over Q1.
-
Cedants were able to “challenge the status quo” with aggregates back on the table, the broker said.
-
The company said the reduction was due to years of steady improvements.
-
The program’s total limit this year is down $594mn to $1.36bn.
-
The broker noted a “significant variation” in renewal outcomes.
