Blog: Is the capacity crunch a step in the right direction?
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Manchester Underwriting Management's, Richard Webb, explores the changing nature of capacity in the market.
They said that the hard/soft market cycle was dead. Maybe the obituary was premature?
The insurance market has been cyclical ever since anyone can remember. Awash with capital, we have seen rates in many classes fall and (re)insurers struggle to increase pricing even in response to major catastrophes. But that’s begun to change.
In some lines, particularly those under the spotlight at Lloyd’s, the market is now crunching its way through trading conditions that
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