Global insurance rates continue to decline due to over-capacity: Marsh

Posted On: Feb. 17, 2017 5:00 AM CST

U.S.-based insurance broker Marsh L.L.C. has said that global insurance rates declined by an average of 3.1% in the fourth quarter of 2016, marking 15th consecutive quarter in which average rates declined, Artemis.bm reported. Rates continue slipping due to overcapacity from traditional and alternative sources and a lack of significant catastrophe losses, said a Marsh official.