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A market update of the asset management industry focusing on
D&O and E&O insurance.
In this H1 2024 Asset Management Market Update, we are pleased
to provide our thoughts on the current state of the insurance
market for asset managers and the funds they manage, and some
thoughts on what to expect throughout 2024.
During recent months, the environment for procuring Professional
Indemnity (PI)/Errors and Omissions (E&O) and Directors’
and Officers’ (D&O) Liability insurance –
collectively known as investment management insurance (IMI) –
has been favourable for asset managers. The combination of
aggressive insurer growth targets and new entrants in the global
insurance market have increased competition and capacity available
in all major markets. IMI renewals through 2023 achieved premium
reductions in most cases and we expect this pattern to continue
through 2024.
Effective risk management and corporate governance remain high
on the agenda of firms and regulators worldwide, with continued
focus on ESG factors as well as operational resilience, especially
in the context of cyber security. The evolving regulatory framework
across financial services requires a dynamic approach to risk
management, and at WTW we remain fully engaged in supporting our
clients manage the latest risk trends and developments impacting
asset managers. We are committed to achieving the best possible
insurance outcomes for our clients as a key part of their risk
management strategies.
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H1 2024 – asset manager market update – gb
& na
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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