Log In

Reset Password

Insurance rates decline slows

Global insurance rates moderated throughout last year, with four consecutive quarters where the rate of decline decreased.

The Marsh Global Insurance Market Index is a benchmark of commercial insurance premium rate change at renewal representing the world's major insurance markets and comprising 90 per cent of Marsh's premium.

The insurance broker and risk management company started the index in 2012, and the latest figures show that insurance rates in the fourth quarter of 2016 declined, making it the fifteenth consecutive quarter when rates have fallen.

Marsh noted that this is largely due to “a global market with substantial capacity and an absence of significant catastrophe losses”.

However, the composite rate change shows that the rate of decline moderated in each quarter of 2016, starting at a decline rate of 3.8 per cent in the first quarter and a final quarter decline of 3.1 per cent.

Market snapshot: Marsh's global insurance market index shows that insurance rates have now fallen for 15 consecutive quarters. However, the composite rate change moderated in each quarter of 2016 (Source: Marsh)

You must be Registered or to post comment or to vote.

Published March 10, 2017 at 8:00 am (Updated March 09, 2017 at 8:05 pm)

Insurance rates decline slows

What you
Need to
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon