Jul 26, 2023 / 11:00AM GMT
Neil Eckert - Conduit Holdings Limited - Executive Chairman of the Board
Good afternoon, ladies and gentlemen. It gives me great pleasure to open the Conduit interim results presentation for the first half of 2023. We are now seeing the best market conditions that I've experienced in my career. This is true both for pricing, terms and conditions, and higher attachment points, which to some extent mitigate the increased claims activity we are seeing. We see a number of factors combining to create these market conditions. Inflationary pressures continue to persist and interest rates remain high. But what we have seen is the erosion of traditional reinsurance capital, which we now believe stands 2013 to 2014 levels.
Another element for me, which is not been so much discussed, is a structural change in the US primary markets where the admitted carriers of withdrawing from new business in certain key states, which is driving strong growth across excess and surplus lines [of] markets, which are core markets for Conduit. Our underwriting team and Chief Executive, who will go on to discuss this in more
Q2 2022 Conduit Holdings Ltd Earnings Call Transcript
Feb 13, 2024
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