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Report: Liberty Specialty Markets pulling out of London energy liability market

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Report: Liberty Specialty Markets pulling out of London energy liability market

Liberty Specialty Markets Ltd. will stop writing energy and construction liability in London amid challenging market conditions, such as elevating social inflation and worsening loss experience, The Insurance Insider reported.

The company reportedly confirmed the decision to shut the London energy construction liability book to new business as it did not believe the class had a long-term future in London, according to the report.

Liberty Specialty Markets is exiting the London energy liability market as John Henderson, head of energy, construction and marine liability, retires, the publication reported.