London insurance market looks for cost savings
The London insurance market is upbeat and enjoying a strong year according to research by PricewaterhouseCoopers (PwC). However, speaking at the Reinsurance Rendez-Vous in Monte Carlo, Philip Calnan, partner, said that the market conditions were set to become more challenging. "The softening market, increasing competition for captial and pressure from regulators, rating agencies and capital providers will leave little margin for error in underwriting and capital allocation decisions," he commented.
The survey, the third of its kind carried out by PwC, gauges the views of executives of Lloyd's and London companies. The results show the optimism of the last couple of years have been well foundedOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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