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A.M. Best Briefing: London Market Insurers Look to Leverage Specialist Expertise

PR-Inside.com: 2014-09-01 09:05:01

A.M. Best Briefing: London Market Insurers Look to Leverage Specialist Expertise

A.M. Best Company
Catherine Thomas, +(44) 20 7397 0281
Director, Analytics
catherine.thomas@ambest.com
or
Chris Sharkey, +(1) 908-439-2200, ext. 5159
Manager, Public Relations
christopher.sharkey@ambest.com
or
Jim Peavy, +(1) 908-439-2200, ext. 5644
Assistant Vice President, Public Relations
james.peavy@ambest.com

Successfully navigating a difficult trading environment is the biggest challenge faced by London market insurers this year, according to a new briefing from A.M. Best. With market share and traditional business models under threat from an influx of alternative capital and changing buying habits, insurers are seeking competitive advantages by offering superior analytical services or terms and conditions that are difficult for alternative capital to replicate. In the Best’s Briefing, titled “London Market Insurers Look to Leverage Specialist Expertise,” A.M. Best notes that a number of companies have also formed relationships with third-party capital providers, which allow them to increase line size and earn fee income.

The briefing also mentions that in the reinsurance sector, the market dynamics that led to overcapacity and lower rates at the 1 January renewals persist, and in response, companies are seeking to deploy capital elsewhere, putting pressure on pricing in other core lines.

The trend by brokers to establish smaller panels of insurers, with expertise in particular lines of business, is having a marked impact on the London subscription market. Catherine Thomas, director of analytics and author of the briefing, said: “A.M. Best anticipates a greater divergence in the competitive position of market participants. Those companies that are flexible and better able to leverage their specialist expertise will likely emerge in a stronger position.”

To access the full, complimentary copy of this briefing, please visit: http://www3.ambest.com/bestweek/purchase.asp?recor

A.M. Best Europe – Rating Services Limited is a subsidiary of A.M. Best Company. A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2014 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

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Published by
Hossam Abdel-Kader
+43 1 9582319
e-mail
www.pr-inside.com/



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