Axis Capital sees mounting rate rises for renewals as market hardening continues

03-08-2020

Axis Capital sees mounting rate rises for renewals as market hardening continues

‘No COVID-19 impact on Q2 underwriting results’ but pandemic has hit investment income, firm reports.

“The effects of COVID-19 and its economic repercussions will be felt over a number of years.”  Albert Benchimol, president and chief executive officer at Axis Capital.

· Re/insurer records “accelerated improvement in pricing” throughout its business
· US insurance delivers strongest pricing increases 
· Even price rise “laggards” cyber and tech begin to show rate rises
· Improvements in T&C wordings to help drive healthier loss ratios

The firm is well position to capitalise on favourable conditions that “will very likely last well into 2021”.


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