In the second half of 2024, the upstream insurance market is experiencing a softening trend, with improving terms on property insurance renewals in most subsectors of upstream energy. Additionally, environmental, social, and governance (ESG) concerns, while important, haven't led to capacity withdrawals, ensuring stability in the market. Commodity prices remain stable, allowing insurers to focus on safety and risk management. The midstream market has seen a tightening of policy terms and conditions, while the downstream market is softening with increased capacity.
Read the full Energy, Power, and Renewables Insurance Market Update report for a comprehensive understanding of the current market dynamics and how they may impact your business.
