AM Best has assigned a stable market segment outlook to the London market (re)insurance segment. Key supporting factors include upward premium rate momentum, which is expected to support better underlying performance, greater consistency and clarity of policy wordings and the ongoing modernisation of the market, which should reduce costs and make it easier to place business.
A new Best’s Market Segment Report, “Market Segment Outlook: London Market (Re)Insurance”, suggests that London market (re)insurers will continue to respond appropriately to market headwinds such as the impact of social inflation on casualty claims, elevated levels of uncertainty in respect to the impact of the COVID-19 pandemic and changing climate trends.
Nonetheless, should rate increases fail to keep pace with claims inflation, catastrophe experience fall materially outside of current expectations, or if the pandemic more profoundly affects this segment, then AM Best may revise its outlook.
To access a complimentary copy of this market segment report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=307265.
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
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