Guy Carpenter is the latest authority to confirm softening in the reinsurance market, as it reported that “market pressures at July 1 renewals continued to drive price decreases across virtually all geographies and lines of business, many in the double digit range.”
Lara Mowery, managing director and head of global property dpecialty for Guy Carpenter, said: “While the impact on property renewals, especially in the US, has been well documented, a wide variety of lines including marine, aviation, casualty, workers compensation and healthcare experienced improved terms and abundant capacity. As a result, we have seen continued discussions around the expansion of terms and flexibility in adapting solutions to provide more client-specific tailored coverage that extend well beyond property.”
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Guy Carpenter, Renewals, North America, Europe, Lara Mowery, David Priebe