EMEA and the United Kingdom

Regional Market Dynamics

See below for insights related to the market dynamics in EMEA and the UK, or select a geography below to take a closer look.

Featured Geographies: Germany | Iberia | Italy | Netherlands | United Kingdom

Pricing

Modest to moderate price increases continued across all countries; however, Natural Catastrophe and US-exposed risks experienced more significant increases while decreases were reported in pockets.

Capacity

Capacity was sufficient for most risks. While Cyber stabilized in most countries, Property capacity for challenging occupancies and Natural Catastrophe-exposed risks remained under scrutiny. Insurers were cautious in their capacity deployment for complex and poor performing risks.

Underwriting

Underwriting remained disciplined and was focused on risk selection. Detailed information was critical to achieving superior placement results. Cyber risks continued to experience a rigid and rigorous environment; however, it moderated somewhat from 2022.

Limits

Given the adjustments made in recent years, limits in Q1 remained stable; however, changes to reinsurance treaties prompted some limit and sub-limit changes.

Deductibles

Deductibles remained generally flat across most of the region with the notable exception of Germany which experienced upward pressure in some key products. Deductible increases remained an important lever for insureds to consider to help offset premium increases.

Coverages

Coverages remained stable. While restrictions imposed during recent renewals could, in some cases, be reconsidered, exclusions related Cyber, Pandemic and events in Eastern Europe remained.

Germany Market Dynamics

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