Artemis ILS NYC 2020

Menu

Reinsurance News

European insurance market shifting towards firmer conditions: Aon

4th June 2019 - Author: Charlie Wood

A new report by global re/insurance brokerage Aon suggests that the commercial European insurance is beginning to show a more consistent shift towards firmer conditions.

Aon logoFor buyers, this shift is likely to result in higher rates, capacity constraints, and a tightening of terms and conditions.

Aon says this shift is partly a result of insurers responding to high levels of both man-made and natural catastrophes, as well as increased operational costs and evolving buyer demands and risk exposures.

Aon says the extent to which buyers are experiencing these effects varies from country to country across Europe and by line of insurance.

The report found more challenges when buyers do not provide enough underwriting information or allow sufficient time for their renewal process.

At the same time, if a business has a good loss record, supporting data, proactive risk management programmes and a thought through strategy, Aon says there are still deals to be done in the market.

In the UK, Aon believes the commercial insurance market is entering a more disciplined phase, and that buyers will need to focus on providing sufficient risk information and allowing enough time for the renewals process.

D&O, marine cargo and professional liability are the business lines most impacted by the changing market, whilst food and waste are challenging sectors for property and business interruption, with a focus on risk management quality.

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous article:
Protective completes reinsurance transaction with Great-West Lifeco

Great-West Lifeco Inc. subsidiary, Great-West Life & Annuity Insurance Company (GWL&A) has completed the sale, via reinsurance of all of its...

Close