Modest market hardening in specialty lines
Tuesday, 01 16 2018, Category: Insurance and Reinsurance, Country: World
Across multiple global specialty lines, a modest hardening of rates is expected in 2018, however, new capacity has entered the market in anticipation of the hardening market and will thus reduce the impact on rate growth, according to Willis Re’s viewpoint report on January renewals.
In the global specialty markets signs of market hardening have appeared following the Q3 catastrophe losses as well as increased interest in stop-loss reinsurance to address silent cyber.
With losses from the three major Q3 hurricanes still being tallied, January 1st 2018 renewals were later than usual.