PRICING TRENDS
Insurance buyers face an uncertain outlook over the next year. While the sharp primary rate increases of the past four years appear to have eased, prices are still rising, and general economic conditions and other market forces may preclude much further easing.
Insurance buyers face an uncertain outlook over the next year. While the sharp primary rate increases of the past four years appear to have eased, prices are still rising, and general economic conditions and other market forces may preclude much further easing.
Hurricane Ian is likely to be a significant loss event for the U.S. property/casualty and global reinsurance sectors and is expected to accelerate the firming of property rates in 2023, Standard & Poors Global Ratings said in a note Friday.
Hurricane Ian is likely to be a significant loss event for the U.S. property/casualty and global reinsurance sectors and is expected to accelerate the firming of property rates in 2023, Standard & Poors Global Ratings said in a note Friday.
Firm rates and capacity constraints are likely to continue in the wholesale and specialty insurance market for the remainder of this year and into 2023, even as some areas moderate, according to sources at the Wholesale & Specialty Insurance Associations Annual Marketplace.
Firm rates and capacity constraints are likely to continue in the wholesale and specialty insurance market for the remainder of this year and into 2023, even as some areas moderate, according to sources at the Wholesale & Specialty Insurance Associations Annual Marketplace.
U.S. commercial insurance prices increased by 5.9% on average in the second quarter, compared with the year-earlier period, according to Willis Towers Watsons latest pricing survey.
U.S. commercial insurance prices increased by 5.9% on average in the second quarter, compared with the year-earlier period, according to Willis Towers Watsons latest pricing survey.
Liberty Mutual Holding Co. Inc. will continue to push for higher insurance rates after reporting a second-quarter net loss of $343 million, compared with $769 million in net income in the same period last year, as lower investment income and higher claims costs hit the insurer, its top executives said Thursday.
Italys top insurer, Assicurazioni Generali, said Tuesday it would increase prices to keep up with rising costs, and maintained its financial targets after a strong life business helped it beat first-half earnings expectations.
Italys top insurer, Assicurazioni Generali, said Tuesday it would increase prices to keep up with rising costs, and maintained its financial targets after a strong life business helped it beat first-half earnings expectations.
CNA Financial Corp. on Monday reported second-quarter net income of $205 million, down 44.3% compared with the same period last year, as investment results worsened, but net written premium rose as rates continued to increase.
CNA Financial Corp. on Monday reported second-quarter net income of $205 million, down 44.3% compared with the same period last year, as investment results worsened, but net written premium rose as rates continued to increase.
Aon PLCs clients saw a 14.7% decrease in the average price per million for their directors and officers liability policies in the second quarter compared with the prior-year period, according to a report released Monday.
Aon PLCs clients saw a 14.7% decrease in the average price per million for their directors and officers liability policies in the second quarter compared with the prior-year period, according to a report released Monday.
Global commercial insurance prices rose by 9% in the second quarter of 2022, according to a report Monday from Marsh LLC.
Global commercial insurance prices rose by 9% in the second quarter of 2022, according to a report Monday from Marsh LLC.
Aon PLC reported $2.98 billion in revenue for the second quarter, a 3.4 % increase over the same period last year and an 8% rise on an organic basis.
Chubb Ltd. reported second-quarter net income of $1.22 billion, down 46.3% from $2.27 billion in the year-earlier period.
Commercial insurance industry reserves remain solid and largely continue to produce favorable development, despite high inflation, industry sources say.
Brown & Brown Inc. reported second-quarter revenue of $839.7 million late Monday, up 15.5% from the same period last year, with organic revenue increasing 10.3%.
Lloyds of London insurer Beazley on Friday reported first-half profits fell on hits to its investment portfolio from market volatility but raised its full-year profitability guidance on an increase in cyber risk premiums.
Most major lines of commercial insurance experienced quarter-over-quarter increases in average premium renewal rate change, with umbrella a notable exception, Ivans Insurance Services reported Thursday.