Marsh data indicates that the UK property and casualty insurance market is in transition. The average rate change for Q1 2019 is largely consistent with Q4 2018, but there has been a change in the trading environment and achieving these results has been more challenging than before. Market conditions are changing quickly, particularly in natural-catastrophe-driven property, and large limit international casualty. The changes in average rating may be subtle but, when compared with year-on-year rate reductions, they do indicate a shift in the market.
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