General Insurance Article - Marsh publish Global Insurance Market Index for Q4 2016

 Highlights of this quarter’s report include:

  

 Global insurance rate decreases moderated on average for the fourth consecutive quarter, down 3.1% (compared to the previous quarter’s decrease of 3.2%). 

  

 The fourth quarter of 2016 marked an entire year (four consecutive quarters) in which the average rate of decline for global rates moderated — the first since Marsh initiated the index in 2012.

  

 Global property rates declined on average by 4.2% in Q4, compared to a decrease of 3.9% in Q3. However, the rate of decline for global casualty rates moderated to 1.9% from the previous quarter (down 2.4%). Financial and professional lines decreased on average by 3.0%, a similar level to the prior quarter.

  

 Commenting on the findings, Dean Klisura, Global Industry Specialties and Placement Leader at Marsh, said: “The last quarter of 2016 marked the fifteenth consecutive quarter in which average rates declined, largely due to a market with an oversupply of capacity from traditional and alternative sources and a lack of significant catastrophe losses.”

  

 You can read the full report here