Average global insurance pricing increase first in five years: MarshReprints
During 2017’s fourth quarter, average global insurance pricing increased for the first time since 2013’s first quarter, but not in the United States, continental Europe and Asia, says Marsh L.L.C. in a report issued Tuesday.
Average pricing increased in the United Kingdom, Latin America and Australia, which had its fourth consecutive quarter of pricing increases, average pricing.
Although rates continued to decrease in the United States, continental Europe and Asia, they did so at slower rates than what had been observed in the third quarter, said the report.
Marsh said in its report the average pricing during the fourth quarter increased by 0.8%, compared with a 1.9% decrease during 2016’s fourth quarter.
Breaking results down by line globally, property insurance pricing increased 3.2%, compared with a 2.4% decrease in the previous quarter.
For financial and professional lines, pricing increased 0.1% in the fourth quarter, while casualty pricing decreased by 1.5%.
Both financial and professional lines and casualty pricing decreased in the third quarter by 1.4% and 1.7% respectively, the report said.