London market: uncertain outlook and significant devaluation

The Bank of America (BofA) has warned investors to be wary of losses in the London market. The outlook for insurers and reinsurers will remain uncertain for some time due to the large exposure to risks related to the Russian-Ukrainian conflict.

According to the bank's forecasts, results for Q2 2022 will be affected by the increase in loss experience in the political risk, credit, aviation and marine activities. Added to this is the cost of natural disasters in 2022.

Nonetheless, the bank says the situation is largely manageable for the London market.