MARCH 27, 2023 07:55 AM (EDT)
Best's Market Segment Report: AM Best Maintains its Stable Outlook for London Market Insurance Segment
|Timothy Prince |
+44 20 7397 0320
Catherine Thomas, CFA
Senior Director, Head of Analytics
+44 20 7397 0281
Associate Director, Public Relations
+1 908 439 2200, ext. 5159
Senior Public Relations Specialist
+1 908 439 2200, ext. 5098
FOR IMMEDIATE RELEASE
LONDON - MARCH 27, 2023 07:55 AM (EDT)
AM Best is maintaining its outlook for the London market insurance segment at stable.
In its new Best’s Market Segment Report, “Market Segment Outlook: London Market Insurance,” AM Best notes the strong pricing environment that is expected to support further improvement in underlying underwriting profitability.
Other positive factors include higher interest rates that are likely to boost investment yields, the improved access for third-party capital to support growth opportunities, and market modernisation initiatives that should reduce costs.
Moderating factors include the increased reserve risk posed by social and economic inflation, exposure management challenges as a result of changing climate trends and systemic risks, potential threats from volatile economic conditions, and high reinsurance costs impacting business strategies of those with elevated levels of reinsurance use. In addition, uncertainty remains with regards to the ultimate cost of claims related to the conflict in Ukraine.
To access a complimentary copy of this market segment report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=329961 .
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.