Soft market cuts E&S property margins to the bone

Underwriters worn down by almost three-and-a-half years of
significant rate softening in the excess and surplus lines
(E&S) property space are beginning to talk about walking away
from business, as margins approach unsustainable levels.
The sombre mood at the National Association of Professional
Surplus Lines Offices (Napslo) annual convention in Atlanta
last week extended from US specialty insurers to Lloyd's
underwriters, who conveyed the challenging conditions they face to
their stat