This podcast series was created to deliver specialist insights on the global insurance market.
Q3 is always a particularly significant time as the year-end approaches. It often coincides with key insurance policy renewal discussions, providing an opportunity to understand and manage your annual insurance costs and strengthen risk management across your business.
This quarter’s podcast episodes share many common themes, but while the global insurance market is softening, the shift isn’t uniform across all regions and sectors.
Listen to the below podcasts to explore how the landscape may differ in a region or industry.
Key takeaways for Q3 2025
- Insurer and reinsurer alignment
Strong performance across both insurers and reinsurers is creating room for potentially more competitive pricing and terms in the direct market.
- Favourable loss experience and a calm hurricane season (to date)
Generally positive loss ratios and the absence of significant hurricane activity are expected to positively influence underwriting results and future pricing.
- Improved terms and conditions expected in 2026
Assuming current trends persist, buyers may benefit from more competitive pricing, lower deductibles and potentially also broader coverage. However, certain lines, such as US casualty, may remain under pressure due to historic loss ratios.
- Portfolio arrangements as long-term efficiency solutions
Facilities and auto-follow structures are emerging as sustainable ways to address market volatility, offering streamlined capacity and competitive terms.
- Lead market differentiation is crucial
In conjunction with the above portfolio arrangements, lead insurers will play a critical role in maintaining a competitive landscape. Their value lies in service quality, claims handling, and technical expertise rather than capacity alone.
- MGAs and market consolidation
The rise of Managing General Agents (MGAs) presents both opportunity and risk. As they develop, brokers must assess their claims and service capabilities. Meanwhile, insurers lacking clear differentiation may face consolidation.
View from the top
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Global Market Overview
Simon Delchar and Alastair Swift provide a global insurance market overview for Q3 and discuss expectations for 2026.
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Claims
Neil Harrison and Michael La-Band discuss the current state of the insurance market for global claims.
