Property/casualty, commercial insurance rates to soften further in 2016: Willis

Posted On: Oct. 28, 2015 12:00 AM CST

Willis Group Holdings P.L.C. has said in a report that rates across the majority of the property/casualty and commercial insurance sector will soften further in 2016, reported Artemis.bm.

Challenging market conditions have resulted in rate declines across several insurance and reinsurance business lines. Willis expects rates in the property insurance sector to fall by as much as 15% for catastrophe exposed risks during 2016.