North American Bulletin April 2025

Introduction and market commentary

The London insurance market continues to experience declining rates fuelled by capacity increases, which is leading to greater competition. This is positive news for policyholders.

We offer exclusive Miller Facilities to help with your marketing and remarketing needs. Speed of response and certainty of capacity can be all important in winning and retaining business. We also reference some new products and services to provide you with the all-important entry point into target accounts.

RIMS RiskWorld in Chicago is fast approaching. We will have a large team there, including more new Miller people that bring years of experience as part of our continued investment to support you with more depth and breadth.

Topics in Chicago are likely to include geopolitical events. Our teams have provided insight into aspects of the implications of tariff increases with some mitigation options for your clients.

The shifting broker landscape is also likely to be another major topic at RiskWorld. Domestic consolidation persists, and former challengers are now becoming substantial entities. In London, the strategic aims of brokers and their financial performance is coming under closer scrutiny as the challenges of declining rates and commission levels are felt.

Your selection of wholesale broker remains a critical part of your strategic and tactical approach to London and international markets on behalf of your clients. We are therefore delighted to share with you details of another record year in 2024 and how forward-looking investments will strengthen our independent and non-conflicted offering.

Our objective remains constant, to help you win and retain business. Let’s keep talking!

- John Eltham – Chairman of Client and Market development.