Commercial Insurance Pricing Increased in Third Quarter 2018
Global commercial insurance pricing increased for the fourth consecutive quarter in the third 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 nearly 90% of Marsh's premium.
- Average commercial insurance prices increased by slightly more than 1% in the third quarter, driven by increases in property and financial and professional lines.
- While prices rose slightly, on average, the market remained stable. Prices during the quarter generally fluctuated within a relatively narrow range across most products and geographies.
- Regionally, Australia again had the largest pricing increases in the index. Average prices also increased in the UK and Latin America. Prices decreased slightly in the US, Continental Europe, and Asia.