The ratings agency has maintained its positive outlook on the global P&C reinsurance sector “despite high natural catastrophe losses and likely lower interest rates globally”
Insurance DataLab told Insurance Times that it ’wanted to look at [brokers] delivering sustainable results’ and ’setting themselves up for future success’
’We were clear that we would take necessary actions to drive sustainable outperformance in UK and Ireland,’ says chief executive
There remains ’a massive amount of nervousness’ for some UK insurtechs, says chief executive
‘We expect underwriting to remain disciplined in light of strong Lloyd’s market oversight over market’s catastrophe exposure,’ says ratings director
The UK insurance market is facing a deteriorating outlook for the year ahead as inflation and pricing rules weigh heavy on the market’s performance
The firm’s latest report further highlights that several European markets in addition to non-life could move to a status of ‘deteriorating’
Lloyd’s turned a corner in 2021, according to senior director.
However, capacity is being squeezed in the property catastrophe market as reinsurers withdraw
Frictional costs in the capital are still too high, despite credit rating agency listing market positives
Market trends are expected to exert a ’neutral influence’ on London market firms
Insurance DataLab reveals the preliminary findings of its 2022 Broker Performance Report exclusively in Insurance Times, rating the performance of different sized brokers based on their financial performance
Factors such as general inflation, increased claims costs and flood risk have contributed to the negative rating
Investment bank predicts that conflict losses will be ‘manageable’, yet insurer boss believes flexibility will remain central for keeping abreast of unfolding situation
Insurance DataLab unpicks underwriting in the motor insurance market, flagging the financials of successful firms that have weathered pandemic and regulatory-induced trends
The credit rating agency believes high claims inflation, an uptick in claims frequency and the FCA’s pricing reform will impact insurers’ profitability next year
Asset management and life business segments spearheaded profits with property remaining strong
During challenging times for the industry, ‘2021 has been a sea change for GRP’, says chief executive
Cyber losses could shift to hit reinsurance costs as insurers embrace standalone products over packages to mitigate silent cyber risks
Zurich is showing promise in both the UK and group wide