Growing Market; Cheaper Premiums
As the uptake of W&I insurance on deals increases globally, by corporate and Private Equity (PE) clients, the W&I insurance market is a growing and competitive marketplace. New and increasingly aggressive insurers in the Australasian region have driven a number of overall market trends in the 2017 year – all ‘client friendly’.
- 2017 was the largest year for Aon in warranty & indemnity (W&I) insurance to date, in Australia and globally, and all indicators predict that 2018 will maintain this momentum.
- Growth of new insurers means more insurance capital is available than ever before – which in turn means more competition between insurers to win deals and the ability to insure larger deals.
- More capacity has also meant excess pricing rates have plummeted; primary rates have remained steady albeit certainly at the low end of the range.
- Buyer’s market for W&I – good for corporate clients who are increasingly using the product and PE exits and acquisitions.
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