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The Baldwin Group says softer property market offers opportunities despite ongoing casualty pressures
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News news - Reinsurance News
According to The Baldwin Group, while pricing growth across casualty lines has slowed, the underlying drivers of claims inflation remain firmly in place.
The company said organisations may be able to use savings achieved in property insurance to strengthen other areas of their insurance programmes.
“Property and casualty are creating two very different renewal conversations,” commented Leslie Nylund, National Managing Director of Broking and Insurance Company Partnerships at The Baldwin Group.
The Baldwin Group said increased insurer capacity and stronger competition continued to drive the property market, resulting in an 8.1% reduction in commercial property pricing compared with the same period.
The Baldwin Group said this represented the lowest quarterly increase in more than three years.