Continued softening ahead for U.S. property risks in 2015
Saturday, 04 25 2015, Category: Insurance and Reinsurance, Country: World
North American commercial property rates are predicted to fall by between 12.5% – 15% throughout the rest of 2015, as ample capacity and low levels of catastrophe losses aggravate current insurance and reinsurance market trends, according to Willis Group.
International risk advisory, insurance and reinsurance intermediary, Willis Group Holdings plc., has published a new report examining rate activity and trends for North American insurance business lines, titled, “Willis’ Marketplace Realities Spring Update.”
The firm expects rate declines of up to 15% on property lines for both catastrophe and non-catastrophe exposed risks, emphasising the impact large volumes of alternative and traditional reinsurance capital is having on the wider risk finance world.