Public Liability
Reading the fine print of a softer market
Public liability insurers are facing a softer market but continue to report improved results, despite underlying risks building beneath the surface. Watch Andrew Song unpack why rising claims costs, long-tail uncertainty and emerging liability exposures could test the market’s discipline in the year ahead. 
FY2027 Outlook
Our forecasts for the year ahead
%
%
%
Change in GWP
Change in AWP
Net combined ratio
What’s driving these results?
These forecasts are underpinned by:
Continued rate reductions
Expenses and reinsurance costs to remain similar
Moderate deterioration in loss ratios as rate reductions flow through. It’s expected to be less than the reduction in rates, reflecting insurers’ ability to differentiate risks.
Charts
Refer to About the data for the fine print; September 2023 quarter is excluded from 2024 figures.
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