General Insurance Article - Global insurance prices up three percent


London, 16 May 2019 - Marsh today released its Global Insurance Market Index for the first quarter of 2019. Key findings include:

 Average commercial insurance prices increased 3% in Q1 2019, the largest increase since the survey began in 2012.
  
 Q1 2019 represents the sixth consecutive quarter of average commercial insurance pricing increases.
  
 Composite pricing in Q1 increased in all global regions for the second consecutive quarter, driven by rate change in property and directors and officers (D&O) coverages.
  
 Regionally, Pacific had the largest price increases in the index (>10%), a trend that has continued for eight quarters. The UK and Continental Europe both reported average price increases of 2% or higher.
  
 Globally, pricing for property risks increased by almost 5% on average, slightly above the rates recorded in the previous four quarters. Casualty prices declined nearly 1% on average, continuing a trend started in 2013.
  
 Average pricing in financial and professional lines increased by almost 6%. All global regions experienced a rise, primarily driven by increases in D&O insurance.
  
 Commenting on the findings, Dean Klisura, President, Global Placement at Marsh, said: “While 3% is the largest average increase in insurance pricing we have seen since the index began in 2012, market capacity remains strong in most products and geographies.”
  

Back to Index


Similar News to this Story

FCA announce future work on climate change and green finance
The FCA has published a feedback statement setting out its proposals to improve climate change disclosures by issuers and information to consumers on
Cannabis 2.0 will bring huge opportunities for insurers
Upcoming regulatory developments in the US and Canada are set to accelerate the growth of the legal cannabis industry, with sales already projected to
Life sector outperforms GI for new business ventures in 2019
New business creation in the UK insurance sector has been driven by life ventures in 2019 as the general (non-life) market lags behind in the start-up

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.