Aon's Global Market Insights Report
Q3 2022

Our latest Global Market Insights Report provides analysis of the global insurance market including pricing, coverage, and underwriting trends. This quarter’s report highlights ongoing uncertainty in the marketplace driven by widespread global volatility.

It also examines organizations’ growing awareness of the value of their intellectual property, and the risks—and opportunities—that come with that. Key trends include:

• Insurers remained focused on profitable growth. Persistently high inflation combined with ongoing geopolitical instability, supply chain challenges, and climate change concerns created continued uncertainty in the market, but increased competition paired with strong combined ratios served to dampen the impacts of these challenges. Insurers remained focused on profitable growth, and strong risk management played heavily in underwriting decisions.
• A two-tiered market became more pronounced. A two-tiered market became more pronounced across a significant portion of the market, with products and in-appetite risks targeted for insurer growth experiencing flat or decreased pricing and abundant capacity. Challenging, poor-performing or out-of-appetite risks experienced material rate increases and tight capacity, although these conditions moderated somewhat from previous periods.
• Insurer conservatism strengthened. In the aftermath of Hurricane Ian, which by early industry estimates may amount to a $50-70 billion insurance event, insurer conservatism strengthened. As the full market impacts of Hurricane Ian materialize, a shift in pricing and capacity is widely expected to ripple across the primary and reinsurance market in Q4 and beyond.

For more analysis and actionable insights to help you make better decisions, access the report below.