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Global Commercial Insurance Prices Increase 6th Consecutive Quarter

Globe-shaped graph with clouds in background and dollar sign in center
May 20, 2019

Marsh recently released its Global Insurance Market Index for the first quarter of 2019 with the following key findings.

  • Average commercial insurance prices increased 3 percent in Q1 2019, the largest increase since the survey began in 2012.
  • Q1 2019 represents the sixth consecutive quarter of average commercial insurance pricing increases.
  • Composite pricing in Q1 increased in all global regions for the second consecutive quarter, driven by rate change in property and directors and officers (D&O) coverages.
  • Regionally, Pacific had the largest price increases in the index (>10 percent), a trend that has continued for 8 quarters. The United Kingdom and Continental Europe both reported average price increases of 2 percent or higher.
  • Globally, pricing for property risks increased by almost 5 percent on average, slightly above the rates recorded in the previous 4 quarters. Casualty prices declined nearly 1 percent on average, continuing a trend started in 2013.
  • Average pricing in financial and professional lines increased by almost 6 percent. All global regions experienced a rise, primarily driven by increases in D&O insurance.

Dean Klisura, president, global placement at Marsh, said, "While 3 percent is the largest average increase in insurance pricing we have seen since the index began in 2012, market capacity remains strong in most products and geographies."

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