What causes a market cycle and are we heading into a soft market in 2024? Join us for this informative presentation given by Alan Chandler. He’ll be looking at what causes market cycles in the insurance industry and what is likely to occur in 2024. Alan correctly called the hard market in 2020, providing a presentation on the seven reasons why the market would harden. Rates have now got much higher; investment returns are now at very healthy levels and underwriting in the UK looks a lot better proposition than it did back in 2020. New entrants will be attracted to the market and existing players will look to expand capacity to take advantage of the current favourable investment conditions. By joining this webinar, participants will understand: - What is an insurance market cycle. - What causes a market cycle change. - Where the market is heading in 2024. - How brokers and underwriters can best manage the changing market cycle. - The brokers fiduciary duty in a softening market and why insurers cannot not expect blind loyalty from brokers. Date: Friday 16th February Time: 2 pm – 3 pm Venue: Online ➡ Find out more and book your place at: https://lnkd.in/edRuaXQd #IIB #InsuranceIndustry #GlobalMarkets #Bristol
Insurance Institute of Bristol’s Post
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Last week, AM Best released its Market Segment Report: "Rapidly Increasing MGA Premiums Warrant Greater Oversight". The report highlights 3 consecutive years of greater than 15% premium growth driven by delegated underwriting authorities, suggesting rapid growth could pose significant risk for insurers lacking appropriate diligence and governance. We see the report as a warning for insurers in the delegated authority space. Our team understands the challenges carriers face in balancing risk and relationships when large portfolios are at stake, and can help you level up your oversight with our program quality review. Link to full report in comments 👇 #insurance #MGA #insurer #governance
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Partner, KPMG LLP | Growth & Strategy: Insurance Industry | Global Insurance Mergers, Acquisitions & Divestitures | Global Account Lead Partner | Business Advisory Board Member
In this rapidly evolving marketplace...'more of the same' will not be a winning strategy. As insurance underwriters evolve their customer value propositions and business models beyond loss protection to include risk prediction and prevention services … the transformation of the P&C insurance industry will accelerate. M&A, partnerships and alliances will serve as a key catalyst to accelerate this strategic transformation.
Insurers are confronted with a multitude of major cost drivers in P&C, impacting both personal and commercial line companies. In response to the changing P&C landscape, #insurance carriers must continue to adjust and innovate their products and services to keep pace with the evolving market. Read our latest insight for more: https://lnkd.in/e-Q8ZnUt
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Insurers are confronted with a multitude of major cost drivers in P&C, impacting both personal and commercial line companies. In response to the changing P&C landscape, #insurance carriers must continue to adjust and innovate their products and services to keep pace with the evolving market. Read our latest insight for more: https://lnkd.in/e-Q8ZnUt
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There's still time to register for #FitchRatings #Insurance Insights on #Spain at 10 am CET on Feb 6. What challenges and trends can Iberian insurers expect in 2024? Find out about the regional #outlook, sector updates, #IFRS17 results, & more. Register: https://ow.ly/8GJk50QwP75
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M&A Consulting | Strategy and Transaction Services | Value Creation | M&A | Buy/Sell side
Forget "business as usual," the future of insurance demands proactive solutions. Underwriters are stepping up, offering risk prediction and prevention alongside traditional coverage. This shift creates a powerful win-win: lower premiums for safer customers & better risk management for everyone. But how does one accelerate this transformation? Maybe strategic partnerships, alliances, and M&A activity will be key drivers. Imagine companies combining expertise, sharing resources, and exploring new markets together. This collaborative spirit could propel the industry forward at breakneck speed.
Insurers are confronted with a multitude of major cost drivers in P&C, impacting both personal and commercial line companies. In response to the changing P&C landscape, #insurance carriers must continue to adjust and innovate their products and services to keep pace with the evolving market. Read our latest insight for more: https://lnkd.in/e-Q8ZnUt
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In the following article and its two companion articles we have pulled out the key results and market comments from survey respondents. Read our #LatAm article for details: https://ow.ly/fZyB50R313x #Insurance #Reinsurance
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🌟 Join Us for the Tea Time Express Webinar! 🌟 📅 Date/Time: Monday 29 July, 5:15 PM 🗣️ Speaker: Mark Thornburgh ⏳ Duration: 30 mins (CPD Hours) 🎓 CPD Categories: 4, 5, 6 Explore how the ever-changing economy impacts the Insurance world in our upcoming webinar: "Impact of the Economy on the Insurance World." Discover the often hidden yet significant economic factors that influence both Insurance companies and consumers. To register, log into your member portal. #LearnMore #DoMore #BeMore #Webinar #Insurance #Economy #TeaTimeExpress #CPD #InsuranceIndustry #EconomicImpact #ProfessionalDevelopment
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As we start to hit back into gear for 2024, it’s a good time to think about the months ahead and consider whether you have the right cover for your property and business assets. One thing to think about is - are you exposing yourself to risk by being underinsured? The Vero SME Index survey found that SMEs are increasingly prioritising price and either reducing their total insurance coverage or the number of items covered. This is not surprising, given the current economic conditions; however, less or no coverage for items can mean they’re underinsured – and underinsurance means increased risk exposure. This is where brokers can help by assisting small and medium businesses to obtain the right coverage to ensure they remain covered through challenging periods, without risking underinsurance, which can be the last thing you need at claim time. There are a number of options that brokers can suggest, to support clients through the tougher times. If you’d like to find out more, just reach out to a member of the IANZ network: https://bit.ly/3HeMaET #AdviceNotPrice #VeroSMEInsuranceIndex #PriceSensitivity
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Some relief might finally be in sight! According to the latest sigma report from Swiss Re, hard market conditions will persist through 2024 for both commercial and personal lines but are expected to ease in 2025. The global economy’s surprising resilience and increased demand for insurance are driving factors behind this forecast. Swiss Re anticipates a significant improvement in underwriting results and a 10% return on equity for P&C insurers in 2024. #HardMarket #ChittendenGroup #Insurance
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Insurers are confronted with a multitude of major cost drivers in P&C, impacting both personal and commercial line companies. In response to the changing P&C landscape, #insurance carriers must continue to adjust and innovate their products and services to keep pace with the evolving market. Read our latest insight for more:
Property & Casualty: A Changing Landscape
