Hard market softening for construction sector, but inflation pressures still loom over insurance industry

March 14, 2024

https://www.globenewswire.com/news-release/2024/03/14/2846074/0/en/Hard-market-softening-for-construction-sector-but-inflation-pressures-still-loom-over-insurance-industry.html

LONDON, March 14, 2024 (GLOBE NEWSWIRE) — 2024 marks a period of greater optimism for the construction sector, as it moves away from the hard market cycle that’s been in effect for many years, with global infrastructure construction output set to grow at an annual average rate of 5.2% from 2024 to 2027. However inflation and interest rate uncertainty is still impacting the insurance industry as a whole, after another record year of catastrophic events in 2023. That’s according to the Q1 Construction Rate Tracker from WTW, a leading global advisory, broking and solutions company.

Read more at globenewswire.com

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