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Marsh Finds Global Commercial Insurance Pricing Up Fourth Quarter

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February 26, 2019

Marsh's fourth quarter 2018 Global Insurance Market Index revealed that commercial insurance pricing increased for the fifth consecutive quarter in the fourth quarter of 2018. The report's findings compare the following regions: the United States, the United Kingdom, Continental Europe, Latin America, Asia, and the Pacific.

Marsh identified the following key findings from its report.

  • Average commercial insurance prices increased by 2 percent in the fourth quarter of 2018, which is the steepest increase since the survey began in 2012 and the fifth consecutive quarter of average increases.

  • Composite pricing in the fourth quarter increased in all global regions, making this the first time all regions have reported an increase in the same quarter.

  • Regionally, the Pacific had the largest pricing increases in the index (greater than 10 percent), a trend that has continued for seven quarters. The United Kingdom, Continental Europe, and Latin America all reported average pricing increases of at least 1 percent.

  • Globally, pricing for property risks increased by almost 4 percent on average, slightly above the rates recorded in the previous three quarters. Casualty prices declined nearly 1 percent on average, continuing a trend started in 2013.

  • Average pricing in financial and professional lines increased across all global regions, most notably in Australia. The increases were primarily on directors and officers insurance.

Dean Klisura, president, global placement and specialties at Marsh, said of the findings, "Although the last quarter of 2018 saw average prices increase in all regions, the increases were generally modest. While pricing for property and financial and professional lines have increased globally for five straight quarters, market capacity remains strong in most geographies."

The full report is available on the Marsh website.

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