Over 150 Bridge Specialty Group teammates attended this year’s Wholesale Specialty Insurance Association (WSIA) annual marketplace in San Diego recently. Regarded as the premier wholesale event of the year our President, Steve Boyd, participated in a CEO breakfast and was featured as a speaker for an in-person “fireside chat,” hosted by Insurance Insider, and selected to give an interview on the changing wholesale broker role, E&S market growth, and global expansion. Please view the video here: Live from WSIA 2024: The Evolution of Wholesale Broking and E&S Innovation | Insurance Insider US
Key insights that our team is prioritizing:
Investments
- Continued investments in digital, data and technology are priority to our industry, and we are committed to delivering quality and relevant data solutions to our clients.
- Emphasis on the personal and professional development of our domestic and international teams is a necessity. While Bridge Specialty Group remains active in the M&A space, we are looking for teams that can help us to further introduce niche solutions and/or expand our global footprint.
- It is crucial to plan for the next generation of the industry, and our recruiting and internship efforts remain steady in response.
- Specialization and experience are relied upon more than ever. Our Practice Groups continue to gain positive traction and resonate with the marketplace, addressing needs of our retail partners in a more pointed way. Complex Property, Complex Casualty, Executive Risk, Public Entity, Transportation, Farm & Ranch, Personal Lines and Workers Compensation are our featured Practice Groups today, and we will be announcing new Practice Groups in 2025, to continue to spotlight our specialized capabilities.
Excess & Surplus
- New carriers are entering the marketplace across all lines, and we need to be keenly aware of capacity available.
- Business continues to fluctuate between admitted and E&S markets, yet we continue to see a steady stream of new opportunities from our retail partners across the United States and Europe, which is helping to counter some of the softening we are seeing in property pricing.
- All signs point to continued growth in E&S premiums. Difficult classes especially in Transportation, Complex Excess and Habitation are expected to be problematic throughout 2025.
- Legal System Abuse continues to challenge our Industry, particularly with Casualty.
Placing over $5B of wholesale business in 2023, this year along with our sister division, Arrowhead Programs, we expect to place more than $12B into the market.
