Construction sector output grew by 5.6% in 2022, following a record-high 12.8% expansion in 20211. However, the sector is also under immense economic pressure with 19% of the 2022 insolvencies being in the construction industry2.
As we entered 2023 there was thought to be approx. £300m in bad debt within the UK construction industry, and this could potentially increase to £1bn by the start of 20243. With economic headwinds, high interest rates, labour scarcity, changes in government policies and net-zero requirements ahead – what does the outlook for 2023 and beyond look like?
In this webinar, we will be joined by Alice Bremner, Senior Credit Risk Underwriter at Tokio Marine HCC and will discuss:
- How inflation and interest rate increases are affecting the sector
- Future risks and scenarios for the UK economy as a whole and specifically the construction industry
- Are the consequences of the heightened insolvencies impacting on approaches to underwriting?
- Sector outlook for the second half of 2023
Date and time:
Thursday 22nd June 2023
10:30am – 11:00am (BST)
How to book your place:
Click ‘Register’ below, once registered you will be emailed the joining details. If you would like to invite a colleague, you are welcome to share this invitation.
If you are unsure you can make the date, please register and we will send you a link after the event allowing you to watch at a more convenient time.