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Brown told analysts on an earnings call Tuesday that an anticipated influx of fresh capital would have a moderating effect on rate rises. -
The AJG CEO once again dismisses suggestions the market is "hard".
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Improvements in pricing are not enough to match the spike in loss costs.
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Rate rises continue to accelerate, with business insurance rate growth up from 3.6% to 4.3%.
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The broker said outsized claims experience for the 2019/20 period had left some mutuals struggling.
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The non-admitted market is expected to harden further.
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Further rate rises “aren’t just a nice to have”, Markel’s co-CEO said on Thursday.
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The level of restructuring of coverage in the quarter and the breakdown of price increases by month point to a change in risk appetite.
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The report suggests a continuation of upward D&O pricing momentum recorded in the first quarter.
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US commercial insurance pricing increased by 4 percent in the second quarter, according to the broker.
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However, analysts said there was more capital waiting on the sidelines to enter the turning market.
