Composite insurance rate continues to grow but momentum slows
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A report by insurance broker Marsh LLC showed that Asian insurance market posted 2% growth in composite pricing in the third quarter of the year, down from 3% in the previous two quarters, Asia Insurance Review reported. Property insurance pricing rose 2%, while financial and professional insurance rate hikes slowed to 5% from 13% hike seen in the second quarter. Cyber insurance rates increased by 25%, as market conditions remained challenging.
