Construction Lines
2023 saw a number of insurers returning to profitability now that long-tail business written in the soft market is gradually handing over. Rates have been stable for a while now, with signs suggesting that the market has now reached its peak amid an influx of new capacity entering the market. It is anticipated that this could prompt a gradual softening over time. Coverage remains broad and consistent, as does appetite with a variety of projects considered and solutions being offered by the market.
![](https://assets.foleon.com/eu-central-1/de-uploads-7e3kk3/47938/artboard_3.e610b9dbe40f.jpg?)
Appetite
2023 did not present any significant changes in appetite, with most insurers still prepared to write a wide variety of projects.
![](https://assets.foleon.com/eu-central-1/de-uploads-7e3kk3/47938/artboard_2.1b816382549a.jpg?)
Capacity
Capacity is now the strongest it has been since the hard market forced several carriers to run off their construction books, which is encouraging and suggests that the market could be at the tip of the curve with competition growing.