Weak pricing outlook for mid-year renewals
Thursday, 05 10 2018, Category: Insurance and Reinsurance, Country: World
Marc Grandisson, President and Chief Executive Officer (CEO) of Arch Capital Group, has predicted that pricing trends at the mid-year renewals are likely to remain flat or even decrease, largely due to industry posturing.
Speaking during the company’s Q1 2018 earnings call, Grandisson explained that at the recent April 1 renewals Arch experienced generally stable pricing trends, with some lines slightly down, depending on the layer and type of risk.
Arch expects to see similar results for the June 1 and July 1 renewals, with strong posturing and competition in the industry driving prices down.