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

Pricing is moderating but remains elevated for Cyber coverage, US-exposed risks, natural catastrophe-exposed risks, and risks in the automotive industry. Favorable local insurer pricing is, in some countries, creating competition in the market at large.

Capacity

Capacity is tight, especially for Cyber, D&O, natural catastrophe-exposed Property, and Casualty, but sufficient in most cases. New capacity has entered the market, but total available capital remains below previous levels in some segments. Smaller market entrants have made an impact in the D&O space.

Underwriting

Underwriting discipline, rigor and scrutiny have strengthened across both local and multinational risks. Robust submissions are receiving the most favorable responses. Appetite is expanding in some products; e.g., Trade Credit.

Limits

Most placements are renewing with expiring limits. There is a growing trend amongst insurers to reduce maximum limits, leading to more layers / coinsurance per placement.

Deductibles

Deductibles are under pressure, especially related to US-exposed risks, as underwriting performance remains challenged. Key exceptions include Auto, Employers Liability and Trade Credit.

Coverages

Following the coverage modifications that were imposed on recent renewals, coverage has now stabilized, except for restrictions imposed on Cyber and Financial Lines, and extensions offered on Trade Credit. Local insurers are creating pressure for the broader market to offer favorable terms and conditions.

Germany Market Dynamics

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