Global Insurance Rate Decreases Moderated Yet Again in Q4: Marsh

February 17, 2017

Global insurance rate decreases moderated on average for the fourth consecutive quarter, down 3.1 percent (compared to the previous quarter’s decrease of 3.2 percent), according to Marsh’s Global Insurance Market Index – Q4 2016. *

“The last quarter of 2016 marked the fifteenth consecutive quarter in which average rates declined, largely due to a market with an oversupply of capacity from traditional and alternative sources and a lack of significant catastrophe losses,” said Dean Klisura, Global Industry Specialties and Placement leader at Marsh, in a statement accompanying the index.

Other highlights of Marsh’s fourth-quarter report include:

* Marsh described its Global Insurance Market Index as a “proprietary benchmark of commercial insurance premium rate change at renewal, representing the world’s major insurance markets and comprising 90 percent of Marsh’s premium.”

Source: Marsh