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In Q3, 46% of primary policies renewing with the same limit and deductible received a price decrease, while 16% received a price increase, according to Aon. -
Inside P&C’s news team runs you through the key highlights of the week.
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The commercial lines giant is continuing to execute on its long-term vision of pursuing a global balanced book of business.
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The two specialty insurers reported strong Q3 2022 earnings, continuing to outperform the commercial industry in underwriting gains and value creation.
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Cyber saw the biggest increase in the quarter, while financial and professional lines saw a slight reduction.
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Marsh CEO Martin South added that the broker expected to see property rates easing, but "the reverse is going to be true."
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As casualty lines face higher uncertainty, reinsurers are in a better position to negotiate prices and terms than they were a year ago.
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In August, the CPI moderated to 8.3% compared with a record high of 9.1% in June.
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Normalized cat returns of 25%-30% do not seem to be persuading reinsurers to dial up risk.
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The rate increase was attributed to increased reinsurance costs during this year’s hurricane season.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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As the loss numbers for Hurricane Ian begin to come into focus, three topics to watch are impact from demand surge, litigation trends, and rate activity.
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