Property and casualty insurance to soften further in 2016
Thursday, 10 29 2015, Category: Insurance and Reinsurance, Country: World
Rates across the majority of the property/casualty and commercial insurance sector will experience further, significant softening in 2016, with property catastrophe exposed lines potentially falling by as much as 15%, according to Willis Group Holdings.
Rates across many insurance and reinsurance business lines have declined in recent times as the challenging operating landscape persists.
Trends driving steep and continuous price reductions in the property re/insurance market, which includes a benign loss environment, ample capacity, low interest rates, and heightened competition, have filtered down into the wider risk transfer market, impacting the operations of those in the casualty arena and beyond.