Global commercial rates continue to decline
Friday, 08 18 2017, Category: Insurance and Reinsurance, Country: World
Commercial insurance rates declined, on average, for the seventeenth consecutive quarter in Q2 2017, driven by excess capacity and intense competition, according to the latest Marsh Insurance Market Index.
Moderating renewal rate declines in the global commercial insurance market occurred in Q2 for the sixth consecutive quarter, declining, on average, across property, casualty, and financial and professional lines.
Global property insurance rates declined on average by 2.8% in Q2, compared to a 3.6% decline in the first quarter, while financial and professional lines declined by 2.1%, compared to 2.6% in Q1.