Trent Williams: Fantastic. So we've gone past the halfway point of the year. So we've looked at how I guess the sample size is quite, quite decent. Now we've got a good feel for how the market sort of performing, Western Europe, a lot of countries within your remit. I guess as we head into, into Q3, how you find the market conditions at the moment.
Joanne Foley: So, I think we're we're probably seeing a lot of consistency with what we said in Q1. So, we're seeing that in terms of rates, there's a lot of stability, there's a lot of optimism about where the market is. We're probably seeing, you know, in terms of changes since Q1, Poland certainly was an outlier in Q1 where we were looking, you know, but that was still quite a tough marketplace, forcing a lot of new capacity. And new competition coming into the Polish market. Otherwise, I would say trends are sort of continuing. What we're seeing is plenty capacity in Europe. You know, we've got strong domestic markets that could look after local risks and other than, you know, large or complex, we're really not looking at alternative markets, but we're still seeing those trends of smaller lead lines. We're seeing more need for co-insurance on risks. But actually, probably those two factors are mitigated by new entrants coming into the market. So, for example, you know, more international players coming into the Nordics or as you know, as I alluded to, those Polish markets where we're seeing more capacity come in. So those factors are sort of balancing there that.
Trent Williams: So so a lot of the European insurers have now put their results out. At the halfway point of the year, profitability still strong combined ratios interestingly starting to sort of tighten up a bit. And in some cases go the other way. Are you seeing any restrictions in cover starting to come through through all?
Joanne Foley: So where we're seeing challenges in terms of cover still continues to be not capped. So with a tough year in Europe last year, particularly in terms of flood risk. So that's still one of the areas where I think pressure on limits and deductibles, teams are still talking about challenges on entry in particular. Yes, but those are sort of the main areas that we're seeing that, we would say, you know, the usual mantras that we say, you know, timeliness, quality of presentation still as a factor, but particularly for those sustainable projects. So where you're getting, you know, so more challenging methodologies are technologies in there. And on those we are seeing the real value of having risk engineering involved.
Trent Williams: Yeah. Yeah. Fantastic. I guess I mean we always talk about right and where right is going, I think right is for the last few right trackers that have done by the quarter, it's been pretty steady is seeing sort of as we head into the end of the year and then early next year, any, any sort of signs of, of writing movement at all.
Joanne Foley: So we're still seeing the sort of an optimism towards a downward trend on it, as I say, but more, more signs of stability rather than rather than any dramatic movements across the region.
Trent Williams: Yeah. And I guess as far as, as products are concerned. So contractors or risk construction liability construction pie, any outliers, are they all fairly consistent in their approach? Writing was probably.
Joanne Foley: Single project PII still a challenge and I would say product like deciding on in France where we've much more limited marketplace. Okay. Particularly for, you know, foreign contractors coming into France, for example. Yeah.
Trent Williams: As for the for clients as we head into the tail end of the year, as far as how they can help separate their risks from from the risk when insurers are looking to finish the year. Yeah, I mean, it's it's the timeliness factor. And we are seeing in some markets where we have got staffing issues on insurers and protective of perhaps that lack of insurance talent in the market means that you need to get in a bit earlier and make sure that you know there's somebody there to look at your risk and also your presentation. And as I say, that risk engineering creates a differentiator, particularly on those newer sustainable type products for sure.
Trent Williams: Okay. Well, thanks for your time, Joanne. Okay. Much appreciated.
Joanne Foley: Thanks, Fred.
