Willis has warned of a "capacity crunch" for offshore energy risks such as oil rigs.
In its annual energy market review, Willis said that increased demand for insurance and higher sums insured meant that in some areas there was a "capacity shortfall".
The report said that there were "no immediate signs of new capacity coming into the market".
It warned: "Further loss deterioration coupled with a capacity crunch may have the potential to change the whole energy market."
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
