Insurance rates likely to go up: Standard and Poors

Posted On: Oct. 25, 2018 6:09 AM CST

U.S.-based S&P Global Ratings Inc. said that property/casualty insurance rates are likely to rise in Australia and drive insurers' underwriting results and returns in 2019, Asia Insurance Review reported. The ratings agency said that competition in commercial segments could limit rates from rising significantly. Insurers' underlying operating performances benefited from rate hardening, lower claims, and expense management in the first half, S&P Global added.