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Competition and ample capacity are pushing premiums lower. -
Inflation indices fell in April, but some items related to P&C are still elevated.
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Most sectors saw lower premium increases, with five reporting decreases.
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Strong underwriting performance and aggressive repricing of risks in most lines has aided stability.
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The result has been a sharp increase in the use of captives.
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The medical CPI is up 3.1% for the last 12 months.
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Growth in construction projects is increasing the need for coverage.
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“Models aren't going to tell you what the emergent risks today are,” Dolan said.
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Median organic growth decelerated to 7.9% in Q1 from 9% in Q4 and 8.4% a year ago.
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The conference came at a particularly tumultuous time for the US insurance industry and the economy at large.
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In casualty, getting significant blocks of capacity remains a major challenge.
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The unit grew Q1 NWP by 23% overall, led by a 27% growth in casualty.
