London: price improvements may not be enough
Wednesday, 11 29 2017, Category: Insurance and Reinsurance, Country: United Kingdom
Fitch Ratings maintains an overall negative outlook for the London Market Insurance sector in 2018, although a pricing upswing in loss-affected lines is on the cards.
Any increase in pricing isn’t expected to be significant enough to outweigh market pressures, with high expenses and lower reserve releases weighing on London Market insurers’ earnings.
Lines affected by the three major hurricanes and Mexico earthquakes will see a significant increase in pricing – Fitch said particularly U.S. property and catastrophe reinsurance.