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Lockton: 2014 Likely a Buyer's Market for the Right Risks

Low catastrophe losses, premium growth and increased competition strengthened the property and casualty industrys bottom line in 2013, but those same factors will create downward pressure on pricing in the coming year and create a continued, if uneven, buyers market, says broker Lockton.

By Anya Khalamayzer | Updated on December 26, 2013

Low catastrophe losses, premium growth and increased competition strengthened the property and casualty industry’s bottom line in 2013, but those same factors will create downward pressure on pricing in the coming year and create a continued, if uneven, buyer’s market, says broker Lockton.

The P&C industry earned an underwriting profit of $2.3 billion in 2013, reversing underwriting losses of nearly $10 billion in 2012, and net written premiums rose to 4.5% in the first half of 2013, a 0.8% increase from the previous year. The combined ratio grew to 97.9% in the second quarter of 2013 from 94.8% in the first quarter, but marked an improvement from 103.2% in 2012.

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