FOR IMMEDIATE RELEASE
LONDON - AUGUST 30, 2022 09:03 AM (EDT)
The considerable remedial and modernisation work being carried out within the Lloyd’s market, along with strong underlying market conditions, should be positive for its future performance, according to a new AM Best report.
The new Best’s Market Segment Report, “Despite Lloyd’s Improving Underlying Results, Inflation and Conflict are Significant Headwinds,” is part of AM Best’s look at the global reinsurance industry ahead of the Rendez-Vous de Septembre in Monte Carlo.
The report also notes that the Lloyd’s market faces significant headwinds. The conflict between Russia and Ukraine has produced material claims uncertainty, particularly for specialty underwriters. At the same time, high general inflation has the potential to impact all lines of business, especially those with longer claims tails or those that are more affected by global supply chain disruption.
To access a complimentary copy of this market segment report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=323425 .
Additional reports, including AM Best’s annual ranking of the Top 50 global reinsurance groups and in-depth looks at the insurance-linked securities, Lloyd’s, life reinsurance and regional reinsurance markets, will be available during August and September leading up to Rendez-Vous de Septembre. Please visit Best’s Research for other reinsurance-related reports.
Lastly, AM Best will host its annual reinsurance market briefing at Rendez-Vous de Septembre on 11 September at 10:15 a.m. (CEST), at the Hermitage Hotel in Monte Carlo. For more information, please visit http://www.ambest.com/conferences/rmbrvs2022/index.html .
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.