London, and Lloyd's in particular, has been hit hard by softening market conditions with margins deteriorating in recent years. But following hurricanes Harvey, Irma and Maria, reinsurers hoped for significant improvements to the pricing environment
Rates & Renewals
Reinsurers are banking on at least some market hardening in 2018 making up for years of declining rates
Hiscox group chief executive, Bronek Masojada, was the first senior figure to suggest the recent spate of devastating catastrophes could turn the market. But he also argues if rates go up, there is a real danger that the market will lose sight of the work it has to do to make London more competitive
Conditions should pick up in the US property/casualty market next year but exactly how far the improvement extends remains to be seen
Some lines of business could even see price decreases, analysts warn
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