Energy market heats up at Lloyd's

Lloyd's of London has adopted the US property and casualty (p-c) insurance industry's practice of niche marketing when there is a soft overall market. Lloyd's and its syndicate members have increased their $600 million market share of the international energy industry p-c insurance to 40% in approximately one year. Energy industry insurance is highly profitable as rates have hardened and retention levels have risen.
Major players in international property and casualty insurance, rather than focusing on an overall market that remains stubbornly soft, are turning their attention to individual markets where prospects for adequate [...]