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Global property insurance market shows signs of softening in Q1’24: Gallagher Specialty

February 27, 2024

In the latest update from Gallagher Specialty on the global property insurance market, significant shifts are noted, particularly in the USA region.

Reports indicate smoother treaty renewals towards the end of the year, with reinsurers largely maintaining high attachment points on Cat Excess of Loss (XOL) programs.

Modest rate increases are observed on clean programs, while oversubscription is noted in higher layers of programs. However, risk excess placements saw larger rate uplifts and tightening of terms.

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