- The Chartered Insurance Institute-a moving experience
- Marsh & McLennan moves for JLT
- AIR Worldwide estimates industry insured losses resulting from Hurricane Florence’s winds and storm surge will range from $1.7bn to $4.6bn-excluding impact of ongoing unprecedented flooding
- Willis Re annual Silent Cyber Risk Outlook global survey indicates insurers are expecting increased cyber-related losses across all business lines over the next 12-months
- PRA issues consultation paper related to the extension of the Senior Managers and Certification Regime(SM&CR) to insurers
- FCA closes remaining investigations into life insurance sector without taking enforcement action
- Insurance Europe responds to EC proposal for a review of the 2009 Motor Insurance Directive(MID) expired
- Co-operators launches new digital insurance product in two months through Slice Labs Insurance Cloud Service expired
- Aviva completes share buyback prgramme expired
- AXA IM moving to the next phase of its commitment to strengthen Responsible Investment (RI) capabilities expired
- Conning publishes US Life-Annuity Consumer Markets Annual expired
- Five-year dairy farmer microinsurance project launched in Kenya-supported by ICMIF members 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.”
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