Skip to main content
main content, press tab to continue
Article

International liability: myth or logic?

WTW Energy Market Review 2023

April 4, 2023

In this article from the 2023 Energy Market Review we look at how the liability market has fared and where it is heading.
N/A
Climate Risk and Resilience

What do Greek mythology and Mathematical Set Theory have in common? They both help to describe the current state of the Energy Liability market and the drivers behind it.

Six months on from our last Review and three months after the key reinsurance treaty renewal season at January 1 2023, how has the Liability market fared and where is it heading directionally?

We saw in our November 2022 Update that Lloyd’s of London figures for this class showed that it had sustained five years of losses since 2017. However, the same results from the first half of 2022 (including Liability, D&O and Financial Lines) showed that it finally returned a modest underwriting profit for this period – a trend that is expected to continue when the full year data is released at the end of Q1 2023.

Lloyd’s Full Year 2022 Results will be released just prior to publication of our Energy Market Review, and initial indications are positive.

This changing trend towards profitability in the Lloyd’s Casualty (Liability) sector is an encouraging development, which is broadly echoed across other Liability markets internationally, and is a result of tighter underwriting controls, greater risk selection and several years of compound rate increases.

The key question is: How has this impacted capacity and pricing and have any of the positive influences been derailed by the challenges of the recent reinsurance treaty renewal season?

To read more, please download the full article, below.

Download the full article

Title File Type File Size
International Liability: Myth or logic? PDF .8 MB

Contact


Nicki Tilney
Head of Construction and Natural Resources, Asia

Related content tags, list of links Article Natural Resources Climate Change
Contact us