- World Economic Forum(WEF) Global Risks Report 2019 highlights worsening international relations hindering action across a growing array of serious challenges
- Comments on Brexit vote impasse
- Allianz Risk Barometer highlights cyber and concerns around Brexit as as top risks in UK
- Willis Re's Summary of Natural Catastrophe Events 2018 report estimates insured losses from major natural catastrophes at around $71.5bn
- BIBA highlights opportunities for business in 2019 Manifesto
- UK Comprehensive car insurance prices fell by 6% in 2018 says Confused.com/ Willis Towers Watson analysis
- Insurance Europe concerned that the European Commission’s proposal for an ePrivacy Regulation could hamper insurers’ ability to offer innovative insurance policies to consumers expired
- ArgoGlobal collaborating with broker Axieme and digital platform Jobby in Italy to respond to a need for on-demand, pay-as-you-go insurance for temporary and short-term workers expired
- LV= General Insurance successfully deploys Guidewire Core and Data solutions in the largest transformation the business has ever undertaken expired
- Marsh announces that it had placed more than 10,000 risks in 2018 through Placing Platform Limited(PPL)-over 15,000 in total expired
- ZhongAn and Grab to establish joint venture company to enter the digital insurance distribution business in Southeast Asia expired
- Greenlight Capital Re becomes largest shareholder in Chicogo-based MGU AccuRisk 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)