Good results but underlying challenges for London insurers
Wednesday, 09 07 2016, Category: Insurance and Reinsurance, Country: United Kingdom
London market insurers performed well in the first half of 2016 and entered the second half of the year with strong balance sheets. But recent good performance conceals fundamental challenges to the market’s competitive position and prospective profitability, AM Best has said in a report.
Pressure on underwriting results is increasing due to the combined effects of changing buying habits, plentiful capacity and global economic uncertainty. Meanwhile, investments are providing scant earnings support, with interest rates at historically low levels and equity markets volatile, the report said.
Source: Intelligent Insurer