LONDON AND EUROPEAN MAJORS WARNED ON US SOCIAL INFLATION

There are signs that social inflation in the US market is continuing apace and could hit European and London market stalwarts like Hiscox, Beazley, Swiss Re, Allianz and Axa. Negative trends in North American commercial motor suggests more strengthening will be needed across that sector, according to newly published research by Jefferies. The conclusion is based on an analysis of the results of transport company First Group, which announced an additional charge to strengthen the reserves of its self-insurance captive.