Research Analyst at Morgan Stanley
Sid asked if there is a similar trend in the admitted and E&S property markets or if any divergence is occurring.
Powell Brown, President and CEO, noted that rate pressure is much higher on E&S property, but there is continued and expected to be increasing interest in the admitted market for good property.
Sid (on behalf of Bob Gianquitti) asked about property renewal rates in Q3 and the outlook for Q4, specifically if they would be similar or worsen, and if there's a divergence in trends between admitted and E&S property markets.
CEO Powell Brown anticipated property renewal rates in Q4 would be similar to Q3, with a caveat for potential aggressive pricing from some markets in December. He noted that while rate pressure is much higher on E&S property, there is continued and expected increasing interest in the admitted market for good property.
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