- Newslink Global Insurance Trends-The Week
- AIG Europe research indicates potential rise in cyber claims as GDPR comes into force
- Marsh report says captive insurance vehicles are rapidly growing in popularity as risk managers seek alternative ways to finance emerging risks
- UNIQA's Brandstetter new President of Insurance Europe
- Insurance Europe's new president Brandstetter makes inaugural speech at federation's 10th International Insurance Conference
- Townley to chair ABI Prudential Regulation Committee
- IFB announces new Chair and three additional Board members expired
- Allstate reports on progress with Amelia, an AI customer interface assistance platform expired
- ChainThat announces strategic partnership with Send Technology to make it easier for re/insurers to adopt blockchain and DLT technologies expired
- Commonwealth Bank of Australia sells equity interest in BoComm Life to Mitsui Sumitomo expired
- PartnerRe first quarter impacted by net unrealized investment losses of approximately $222m-underwriting result improved expired
- Canopius appoints Ott as Head of Reinsurance for Continental Europe expired
16th May 2018
Marsh releases Global Insurance Market Index for first quarter-commercial property and financial/professional pricing up
Marsh today released its Global Insurance Market Index for the first quarter of 2018-highlights include:
-Following four-and-a-half years of price decreases, global commercial insurance prices rose, on average, for the second consecutive quarter. This was largely driven by property insurance pricing, which continued to be affected by 2017 catastrophe losses and increases in financial and professional lines.
-Overall, the market remained stable with first quarter, prices increasing on average by nearly 1%.
-Globally, property insurance pricing increased nearly 3% on average. Financial and professional lines pricing increased approximately 2% on average in the quarter, driven by increases in the UK, Latin America and Australia. Casualty pricing declined by nearly 2% on average.
-Most regions showed either a moderate increase in pricing in the first quarter, or a lessening of the pace of decrease. The one exception was Asia, which had a greater decrease compared to the previous quarter.
Commenting on the findings, Dean Klisura, president, Global Placement and Specialties at Marsh, said “The impact of catastrophe losses last year continued to impact property insurance prices in the US and elsewhere. However, overall market capacity remains strong with pricing decreases continuing in many regions for lines of business less affected by losses.”
MarshMac Trends(738 articles)