The second quarter of 2017 marked the sixth consecutive quarters of moderating renewal rate decreases, according to the latest Marsh Global Insurance Market Index.

It is also the seventeenth consecutive quarter in which commercial insurance rates declined, on average, largely as a result of the continuing forces of a global market with significant capacity and a competitive underwriting environment.

Global composite renewal rates have been on the decline since February 2013. As of February 2017, the global insurance composite rate change is -2.2%. Competitive global commercial insurance prices helped produce a combined ratio for the industry that was above 100% at the end of 2016 for the first time since 2012. 

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Kicker
News