Capital a determinant in ongoing insurance rate decline
Friday, 11 27 2015, Category: Insurance and Reinsurance, Country: World
For the tenth consecutive quarter global commercial insurance rates have declined across the majority of business lines, as excess capacity and a lack of large loss events challenges companies’ profitability, according to analysts at Marsh.
“The third quarter of 2015 experienced commercial insurance rates declining globally in all regions and most lines of business,” says Marsh, adding that renewal rates declined in all areas during Q3, resulting in a 4.8% global composite decline.
According to Marsh, the UK and Asia-Pacific posted the greatest composite rate decreases, followed by Continental Europe, Latin America and then the U.S.