Magazine date:
Mar 2015 The market of the French large risks remained soft during the renewal of January 1st. Lower prices and more flexible conditions have been noticed on all counts.
Property damage, third party liability and marine insurance were particularly affected by the downward trend.
The low loss experience combined with the abundance of insurance supply are the explanation for this situation. Businesses streamline their spendings during periods of economic crisis, including those dedicated to insurance.
The various players, however, believe they are close to the low point of the cycle. Some insurance companies are now trying to offer more services while sustaining the tariffs with more focus being given to price-quality ratio.