Market segment outlook : London market insurance

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      <subfield code="a">AM Best has revised its outlook for the London Market Insurance segment from Positive to Stable, citing continued profitable growth opportunities in U.S. excess and surplus (E&S) lines and healthy investment yields supported by relatively high interest rates. While underwriting profitability remained strong in 2023 and 2024 due to rising rates and moderate catastrophe losses, signs of pricing softening and challenges from climate trends, unmodeled risks, and social inflation are emerging. Casualty lines faced pressure in 2024 due to U.S. litigation, prompting reserve strengthening. Despite potential rate declines, AM Best believes the pricing environment remains conducive to profitability, though underwriting cycle management will be crucial in 2025 and 2026</subfield>
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