Soft market for insurance buyers: Marsh Australia

Marsh Australia said insurance buyers in Australia are benefiting from soft market conditions and increased competition among insurers, Asia Insurance Review reported.

The report, Insurance Market Midyear Update, said a record level of capital in the re/insurance industry has increased competitive pressures among property insurers to extraordinary levels.

Companies are offering multi-year agreements and, as is usual in soft market cycles, "multi-line packaged deals have been negotiated,” the report said.

Read more