Evan Greenberg called out supply-demand factors related to capital in the insurance and reinsurance industry, as well as high levels of intermediation cost, as softening the property insurance market at a pace he called “dumb”
Property softening at "dumb" pace: Chubb CEO
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Supply-demand softening property at a pace “I’ll only describe as dumb” – Chubb CEO Greenberg
 Speaking during the Chubb first-quarter earnings call today, CEO Evan Greenberg called out supply-demand factors related to capital in the insurance and reinsurance industry, as well as high levels of intermediation cost, as softening the property insurance market at a pace he called “dumb”.
“In a number of important markets, property and financial lines pricing conditions are soft, with property pricing in those markets softening at a pace that, frankly, I’ll only describe as dumb,” he stated. Greenberg further said rates are down 25% and the pace is still accelerating.
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