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International

Price pressure main and ongoing threat for London insurance, reinsurance market: Fitch

February 11, 2016 Reprints

Fitch Ratings Inc. has said that pricing pressure is the main and ongoing threat for the London insurance and reinsurance market, reported Artemis.bm.

The rating agency expects further rate declines across a "significant proportion" of insurance and reinsurance business lines. Fitch expects "the London market's attritional loss ratio to deteriorate from 52% in 2014 to 54% in 2016" due to continued pressure on rates across several business lines in the market.

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Price pressure main and ongoing threat for London insurance, reinsurance market: Fitch

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