To help you to adapt your risk and insurance strategies to changing conditions, we provide quarterly updates on specific lines of business, geographies and a global overview. The main headline for Q3 2024 was the generally positive attitude of insurers looking to grow business and a trend towards more competitive terms in a broadly favourable and profitable underwriting environment. Overall, the market in Q3 was more a softening market rather than a soft market.
We saw moderating rates in many lines of business, although certain areas, such as US casualty lines, continued to experience significant rating pressures. Generally, most insurers were focused on growth and market positioning, showing a willingness to write more business globally.
To find out more on Q3 2024’s global themes that could impact your risk and insurance strategy, watch Global Head of Broking Hugo Wegbrans and Head of Corporate Risk & Broking Alastair Swift discuss the big issues. Highlights include:
Contact
Insurers are increasingly integrating environmental, social and governance (ESG) strategies into their underwriting processes.
We expect the focus on cyber risk modeling to provide organizations with better coverage options.
Insurers continue to refine their digital processes to become more efficient and reduce frictional costs.
For more actionable insights on current market conditions for individual lines of business and geographies, see our quarterly video series below.
Disclaimer
Please note the observations in the Global Marketplace Insights Spotlight video series are based on our experience with WTW clients and trends across the global markets, but they are not a whole market study.
It is not clear that the pattern and level of catastrophe losses in Q3 would be likely to shift the prevalent existing trends, which we expect to continue.