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Wholesale insurance reaches new heights

Total surplus lines premiums recorded almost $36bn in H1 2023, a 15.9% rise YoY, according to the Wholesale & Specialty Insurance Association, while transactions rose 2.6%. A range of challenges provided opportunities for the wholesale insurance market, such as the COVID-19 pandemic, economic turbulence, global supply chain issues and social inflation. Economic inflation and legal issues are impacting the market, with jury awards rocketing. The cyber insurance segment is showing signs of settling after two difficult years, although the sector remains firm.

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