What trends could define the specialty insurance market in 2026? We asked some of our team members to share their insights into the challenges and opportunities ahead, and how the industry may need to respond.
A number of emerging US risk themes are likely to hit the London market in 2026. For example; social media liability and addiction claims, and next-gen energy and infrastructure (AI-era data centres). The implication is that with a reputation for creativity for specialty risks, the London market is likely to see enhanced opportunity.
Declan Durkan, Managing Director, Non-Marine
Last year saw an influx of new marine capacity and 2026 looks set to be the same. As a result of this and, for example, improvements in technology and the impact of AI, it is difficult to see the general soft market trend changing over the next 12 months.
Stephanie Doggart, Managing Director, Marine
The CMA review into the UK Veterinary sector is likely to address some of the concerns around competition and overall transparency. If the measures are announced in the Spring of 2026 as anticipated, we should see some cost reductions flowing through into Q3/Q4, benefitting both pet owners and capacity providers.
James Cernuschi, Executive Director
The US property market is likely to continue to see significant softening with average rate decreases of 10- 25% driven by abundant global capacity and increasing competitive underwriting. To compete, London markets may need to differentiate through specialty expertise, parametric solutions or deploy capacity on complex, cat-exposed risks that may be underserved in the US market.
Cathleen Henderson, Broker
We expect to see more EU brokers include international insurers as a standard option for complex risks, expanding the choices available to their clients.
John Williams, Associate Director, EU
