Energy insurance market continues to soften
An international reinsurance consultancy, Willis Energy, predicts there will be a softening of the market in the rest of 2013
Too much capacity chasing an insufficient amount of premium in both the downstream and upstream energy markets will cause a general softening of the energy reinsurance market in the remainder of 2013, according to Willis Energy, an international reinsurance consultancy. According to Willis Energy's latest Energy Market Review: "With tough premium income targets to meet, pressures on underwriter participation 'signings' have increased, with virtually all the major insurers intent on one objective - to maintain, and if possible enhance, their overall premium income from this class. "In the absence of further major losses, these pressures will continue to force insurers to compete more vigorous
Also in this section
23 April 2026
The addition of an oil pipeline to the Power of Siberia 2 gas project could ensure deliveries of Russian oil to China, materially shorten logistics lines between West Siberia and final customers, and—amid disruption in the Strait of Hormuz—offer a land-based export route that reduces exposure to maritime chokepoints
23 April 2026
There is a clear push to bolster exports to Asia amid uncertainty around its North American neighbour, but there are limits to the benefits from the energy crisis
23 April 2026
Shell made the play-opening discovery in Namibia’s Orange basin back in 2022, but its next well could decide whether the project can actually be commercialised
22 April 2026
The failure of OMV Petrom’s keenly watched exploration campaign at Bulgaria’s Han Asparuh block highlights the Black Sea’s uneven track record, despite major successes like Neptun Deep and Sakarya
