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Global insurance prices rise at fastest pace in seven years | The Actuary

The Global Insurance Market Index shows that average commercial insurance prices rose by 3% between January and March, marking the sixth consecutive quarter of increases.

And composite pricing grew in all regions for the second quarter running, which Marsh said was driven by rate changes in property and directors and officers (D&O) insurance.

The Pacific region recorded the largest price rise of over 10% – a tend that has continued for eight quarters – while the UK and continental Europe saw average increases of 2% or higher.

“While 3% is the largest average increase in insurance pricing we have seen since the index began in 2012, market capacity remains strong in most products and geographies,” Marsh Global Placement president, Dean Klisura commented.

The research also found that pricing for property risks increased by almost 5% on average globally, slightly above the rates recorded in the previous four quarters.

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Global insurance prices rise at fastest pace in seven years | The Actuary, the official magazine of the Institute and Faculty of Actuaries.

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