摘要: |
As we enter 2024, it is time to break out the crystal ball and offer up predictions for the insurance market for the new year. First, the good news. The marine insurance market is expected to continue to grow in 2024. The cargo market is predicted to show some modest growth. When coupled with continued increases in property and vessel values, and increased demand for marine insurance products from emerging markets, the increased premiums generated should help shore up insurers' balance sheets. Make no mistake, however. We are not out of the woods yet. Market concerns among insurers shows no signs of abating. Among the concerns are the increasing value of global trade, the growing complexity of global supply chains, the rising frequency and severity of natural catastrophes, potential broader economic instability, and the ongoing conflicts in Ukraine and the Middle East. Then there's what will likely be turbulent election campaigns in the U.S, United Kingdom, Mexico, Taiwan, and India among other countries, that could lead to uncertainty and instability that bleeds over into the insurance markets. |