Global Insurance Market Firming Continues in First Quarter
Global insurance rates continued to firm on average in the first quarter of 2013, following a trend established over the previous 18 months, according to figures released in Marsh's latest Global Insurance Market Quarterly Briefing. In the US, most major insurance lines saw rate increases of 2% to 4%. Outside the US, rates overall decreased by an average of approximately 1%.
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Global insurance rate firming slowed in Q4, despite Sandy - Global Insurance Market Quarterly Briefing: December 2012
Global insurance rates continued to firm in the fourth quarter of 2012, but at a slower rate than in the previous quarter, despite the mounting cost to the insurance industry of Superstorm Sandy. The Marsh Risk Management Global Insurance Index, a composite or weighted average of rate change activity over the preceding four quarters in major lines of insurance business, rose slightly to 101.2 from 100.9 in the third quarter. The index was based at 100.0 in the second quarter of 2012.
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