Lloyd’s predicts $US15 billion new business in 2021
Saturday, 10 17 2020, Category: Insurance and Reinsurance, Country: United Kingdom
Lloyd’s will sign off plans that will allow the market to write about $US15 billion ($20.97 billion) of new business in 2021, CEO John Neal says.
Mr Neal made the comments during Aon's latest “fireside chat”.
“We’re in the heat of battle at the moment signing off business plans. I think the market will grow next year by something in the order of 12-13%,” Mr Neal said.
“To put a number on that … we’ll be signing off plans that will allow the market to write around $US15 billion in new business in 2021 and happy to do so, happy that we’re confident that the market is on track to perform in line with expectation.”
The market could grow in two ways, he said: pricing was “clearly going up” and “we can actually allow some growth in exposure”.