General Insurance Article - Marsh Global Briefing reviews rating scenario


 Insurance rates in most major regions declined modestly in the second quarter of 2013, while rates in the US rose moderately, according to Marsh’s latest Global Insurance Market Quarterly Briefing, released today. Outside the US, rates typically fell between 1% and 3%, resulting in a decline in the Marsh Risk Management Global Insurance Index for the first time since its inception six quarters ago.

 The US was the only region in the global index to show an increase of rates on renewal, with a rise viewed across all lines of business of 1.6%. Rate increases were most prevalent in professional liability and financial institution liability lines, which renewed on average flat to up 10% in the quarter. Marsh clients renewing their directors and officers liability (D&O) in the quarter typically saw flat to 8% increases in rate.

 Financial institutions in parts of the Eurozone also saw liability rate increases during the second quarter, with rates up on average between 10% to 20% in Italy. Rates typically renewed flat to up 10% in France and Spain.

 Increased competition among insurers, increased capacity, and the absence of major catastrophe losses saw property insurance rates typically fall or remain stable across all regions in the quarter.

 “Despite rate increases in several lines of business in the US, insurers are competing aggressively for profitable business, and the market continues to experience an influx of new capacity,” said Dean Klisura, Marsh’s US Risk Practices and Specialties leader. “All of this is resulting in generally favourable market conditions for most clients."

Back to Index


Similar News to this Story

Sleighing the risks by giving Santa the insurance he needs
While you might be the most magical employer in the world, we know that even you aren’t immune to the risks of running a global delivery service! From
Diversity improving in insurance and long term savings
Key figures from the Association of British Insurers’ latest Diversity, Equity and Inclusion (DEI) data collection highlight the work of insurers and
Almost a third of homeowners have been victims of burglaries
Research commissioned by Co-op Insurance reveals that almost one in three (29%) homeowners have been the victims of theft from their home. The member-

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.