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Research and Briefings

Commercial Insurance Pricing Continues Increasing in Second Quarter 2018

 


Global commercial insurance pricing increased for the third consecutive quarter in the second quarter of 2018, according to Marsh's quarterly Global Insurance Market Index, a proprietary measure of global commercial insurance premium pricing change at renewal, representing the world's major insurance markets and comprising 90% of Marsh's premium.

  • The increase was largely driven by insurance pricing for property lines, which continued to be affected by 2017 catastrophe losses, and by increases in financial and professional lines.
  • Prices trended up in most regions with Australia averaging the largest increase, while prices decreased slightly in Continental Europe and Asia.
  • Overall, the market remained stable with second quarter price changes within a relatively narrow range across most product lines and geographies.

Locally, the Australian property market has continued its 18 month rise, albeit from a relatively low base. The listed company D&O market remains in a state of flux with severe capacity constraints and premium increases.

Marsh Pty Ltd (ABN 86 004 651 512, AFSL 238983) (“Marsh”) arrange this insurance and is not the insurer. The Discretionary Trust Arrangement is issued by the Trustee, JLT Group Services Pty Ltd (ABN 26 004 485 214, AFSL 417964) (“JGS”). JGS is part of the Marsh group of companies. Any advice in relation to the Discretionary Trust Arrangement is provided by JLT Risk Solutions Pty Ltd (ABN 69 009 098 864, AFSL 226 827) which is a related entity of Marsh. The cover provided by the Discretionary Trust Arrangement is subject to the Trustee’s discretion and/or the relevant policy terms, conditions and exclusions.

This website contains general information, does not take into account your individual objectives, financial situation or needs and may not suit your personal circumstances. For full details of the terms, conditions and limitations of the covers and before making any decision about whether to acquire a product, refer to the specific policy wordings and/or Product Disclosure Statements available from Marsh on request.