Global Insurance Rates Decline for 17th Consecutive Quarter

Global Insurance Market Index – Q2 2017

Global insurance renewal rates fell for the 17th consecutive quarter in the second quarter of 2017, according to Marsh's just-released Global Insurance Market Index – Q2 2017, a proprietary measure of global commercial renewal rates, representing the world’s major insurance markets and comprising 90% of Marsh premium. Despite the continuing decline, Q2 marks the sixth quarter in a row the rate of decline has moderated on average.

Highlights of this quarter's report include:

• Global insurance rate decreases moderated on average for the sixth consecutive quarter, down 2.2% (compared to the previous quarter's decrease of 2.3%).
• Rate decreases moderate globally in the second quarter of 2017 across property and financial and professional lines. Global property rates declined on average by 2.8% in the second quarter compared to a decrease of 3.6% in the first quarter, while financial and professional lines declined by 2.1%, compared to 2.6% in the previous quarter.
• The decline in global casualty business was slightly higher (1.7%) than the first quarter (0.6%), largely driven by stronger declines in United States casualty pricing. The rate-decrease trend continues to be driven by a marketplace with significant capacity and a competitive underwriting environment.