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Amwins CEO: banking turmoil could reverse softening insurance markets

March 21, 2023

The Silicon Valley Bank (SVB) collapse is increasing awareness of risks in the financial system and could reverse some of the softening in insurance markets this year, according to Amwins CEO Scott Purviance.

“When you’re allocating capital and taking risk as an insurance company, there are things that you’re not contemplating,” Purviance told Insurance Business.

“I think we’re seeing that risk is going to be much more in focus as this year goes by, and that likely means some of the lines of business that were softening are going to potentially at least be flat if not up in 2023.”

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