Asia insurance rates increase 2% in fourth quarter: Marsh

According to Marsh LLC's Global Insurance Market Index report, commercial insurance pricing in Asia increased by 2% in the fourth quarter of 2022, with the region showing the lowest increasse compared to other regions in the world, Asia Insurance Review reported. Property insurance rates grew by 2%, while cyber rates saw a 22% increase. Directors' and officers' rates began to stabilize, with non-U.S.-exposed businesses experiencing decreases of up to 10%.