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

Moderate price increases continued in Q2, driven largely by inflationary pressures. The Casualty market became more competitive, especially for middle market risks. Cyber remained challenged, with material rate increases, based on risk size and complexity.

Capacity

Sufficient capacity was available for most risks with the notable exceptions of those in distressed industries, as well as Cyber and D&O placements, despite some recent expansion in the D&O space.

Underwriting

Underwriting scrutiny remained high, driven largely by a continued focus on insurer profitability, supply chain challenges, and uncertainty related to the Ukraine-Russia crisis. High-risk industries experienced limited appetite.

Limits

Limits remained generally flat, with the notable exception of mandatory Cyber reductions as insurers continued to manage their exposure to rising loss costs

Deductibles

Deductibles remained generally flat, with the key exceptions of Cyber, risks placed in the German market, and where insureds have opted to increase deductibles to help offset premium costs.

Coverages

Following adjustments made over the past two years, coverages were stable in Q2 with the notable exceptions of:

Cyber insurers introduced restrictions related to coverage territory, war, ransomware, systemic risk, and business interruption.
Casualty insurers closely monitored extensions such as Pure Financial Loss, Product Recall and Professional Indemnity.

Germany Market Dynamics

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