New markets have come in on the property side with significant capacity, both traditional and nontraditional. We’re seeing increased capacity not only from U.S.-based carriers but also from Bermudian and European carriers in the U.S.
These Bermudian and European carriers who’ve always written North American risk now want to do it direct, here. They are putting boots on the ground. That’s helping create a lot of capacity in the marketplace. Given what happens when the supply of any product exceeds demand, prices are moving downward, creating favorable conditions for commercial clients.
Read about these developments and more in the latest Property & Casualty Update.