Andrew Kendrick, President of ACE European Group describes the current underwriting economic and business environment and offers practical steps on how insurers can respond.
There are two things in the insurance industry that seem as reliable as the phases of the moon. One is the inevitability of the insurance cycle. The other is the unwritten rule that CEOs will call, at regular intervals, for underwriting discipline. Given the volatility of industry results, it could be concluded that these exhortations have not been successful. Instead we need to get used to underwriting in a 'new normal'.
In this Thinkpiece, Andrew Kendrick, President of ACE European Group sets out what he believes this new normal looks like.