Most locations exhibit either a reduction in premium rating (noticeably at the lower end of the stated range) or at least remain stable. Retention levels also generally show some reductions across the board. We also include a rating for Africa for the first time as we start to build a portfolio of deals across that region, further demonstrating that W&I insurance is now a global M&A solution.
We have seen convergence in regional W&I coverage parameters as insurers increasingly allocate insurance capital on a global basis, however the differences remain potentially significant. For global investors and clients investing in new territories there is a need to factor these variations in to how they finance risk across their deal footprint.