Global commercial insurance and reinsurance pricing was already on the increase prior to the COVID-19 crisis, although strong capitalization in the reinsurance market saw more moderated increases compared to those in the primary market. Ultimately, the fundamentals of (re)insurance remain strong. There will nevertheless be winners and losers as the market adjusts to the post-COVID-19 environment: carriers with strong capital adequacy, more disciplined underwriting and efficient expense structures will likely prosper.
The ongoing COVID-19 pandemic is having an effect on the insurance market, but is not the only reason for the current difficult conditions for buyers, Marsh colleagues said during the ninth installment of Marsh’s COVID-19 webcast series. Marsh is an affiliate of Guy Carpenter
Contributors to the webinar include Marsh colleagues:
Allison Pan – Senior Vice President, Marsh Risk Consulting, Emerging Risks
Paul McVey – U.S. Property Claims Leader
Laurence Pearlman – Senior Vice President, Workforce Strategies, Marsh Risk Consulting
Sarah Downey – Directors & Officers Product Leader, Marsh FINPRO Practice
Guy Carpenter, in collaboration with our colleagues throughout Marsh & McLennan, is closely monitoring the direct and indirect impacts of the virus, and we stand ready to help our clients answer the variety of challenges presented by COVID-19.