• Contact Us
  • About
  • Advertise
  • Privacy & Policy
Saturday, June 14, 2025
  • Login
E3P Motor Insurance
  • Home
  • Insurance
  • Pension
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
  • Home
  • Insurance
  • Pension
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
No Result
View All Result
Business Post
No Result
View All Result
Home Insurance

Commercial Insurance Price Increases Across The Globe

Nwanne Ikemefune by Nwanne Ikemefune
February 6, 2021
in Insurance
0 0
0
Commercial Insurance Price Increases Across The Globe
0
SHARES
129
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

Global commercial insurance prices jumped 22% in Q4 of 2020, according to Marsh’s “Global Insurance Market Index.”

According to Marsh this is coming on the back of year-on-year average increases of 20% in the third quarter and 19% in the second quarter of 2020. However the increase revealed geographical differences as price increases were minor for some lines of insurance.

For instance, property insurance, and directors and officers (D&O) insurance pricing in the US is showing signs of moderating increases, and similar patterns can be seen in certain property and casualty lines in Continental Europe, and Latin America and Caribbean (LAC). Marsh noted that regionally, Continental Europe, Asia, and LAC have now experienced moderate levels of price increases for three quarters.

Marsh attributed the average composite price increase in Q4 to rising property insurance rates, as well as spikes in financial and professional lines. Other findings included the following:

*Global property insurance pricing was up 20% on average, dropping slightly from the 21% increase experienced in Q3, though this was balanced out by a larger spike in global financial and professional lines, which were up 47% on average, compared to a 40% increase the previous quarter.

*Casualty pricing was up 7% on average, compared to a 6% increase in the previous quarter.

*Composite pricing in the fourth quarter increased in all geographical regions for the ninth conservative quarter.

*All regions, except LAC (9%), reported double-digit price increases, with the UK in the lead (44%), the Pacific region close behind (35%), and theUS in the third place (17%). According to Marsh, the rate of increase in the fourth quarter either declined or remained the same in all regions outside the UK and Pacific.

*Public company D&O coverages continue to see large spikes in rates, especially in key markets like the UK and Australia. While D&O price increases may be moderating in other regions, prices are still up between 25% and 50% in many countries.

The president of Marsh JLT Specialty and Marsh Global Placement, Lucy Clarke, bares mind, “The global insurance marketplace was very challenging in 2020, and we expect these conditions to persist through the first half of 2021,” he therefore, gives open layered stake; “Although we are seeing signs that price increases are beginning to plateau in some lines, our clients continue to face tough trading conditions. We are committed to presenting all risk mitigation and insurance placement options to our clients, and to offer advice and support as they consider adjusting their insurance buying patterns.”

Previous Post

Canadian Court Of Appeal Enforces Uberrimae Fidei

Next Post

NNPC Seals 54% Trading Surplus For November

Nwanne Ikemefune

Nwanne Ikemefune

Related Posts

Ilori
Insurance

Maiden Insurance Week Adopts Wide Angle Lens to Capture All For Insurance

June 14, 2025
CAMCONIA Sprints With Full Vigour For Maiden Insurance Week
Insurance

CAMCONIA Sprints With Full Vigour For Maiden Insurance Week

June 13, 2025
Sanlam and Allianz, Beacons of Global & Continental Insurance Merge to Enhance Operations in Nigeria
Insurance

Sanlam and Allianz, Beacons of Global & Continental Insurance Merge to Enhance Operations in Nigeria

June 10, 2025
Next Post
NNPC Kicks-Off Compliance, Appoints EITI Implementation Programme Manager

NNPC Seals 54% Trading Surplus For November

Please login to join discussion
NEM INSURANCE NEM INSURANCE NEM INSURANCE
  • Trending
  • Comments
  • Latest
Loss Adjusters Receive Charge To Match Speed Of New Developments

Loss Adjusters Receive Charge To Match Speed Of New Developments

April 27, 2024
tope smart NIA former chairman

Insurance Milestone: A Beacon To Follow

April 3, 2022
Custodian Investment To Acquire 51% Stake In UACN Property

Penetration: Operators Call For Insurance-In-Action

November 2, 2022
NCRIB And Universal In Pictures

NCRIB And Universal In Pictures

May 4, 2024
Reinsurance Rates May Increase Into 2022, But Momentum To Wane: Fitch

Reinsurance Rates May Increase Into 2022, But Momentum To Wane: Fitch

April 13, 2021
ncrib logo

NCRIB Sets The Stage For Adaramola’s Tenure

June 7, 2023
Preferred PenCom Logo

PenCom Board Crafted To Hedge Setback

February 1, 2021
Linkage Assurance Aligns With Brokers For Growth

Linkage Assurance Aligns With Brokers For Growth

December 6, 2021
PTAD Wipes 21,227 Parastatals Pensioners From Payroll

PTAD Wipes 21,227 Parastatals Pensioners From Payroll

January 31, 2021
Preferred PenCom Logo

PenCom Board Back-To-Work Pass, Gets Tick Over

May 4, 2025
Anchor MD Loses Father

Anchor MD Loses Father

2
Regulators Clear Guinea Insurance  For Private Placement

Regulators Clear Guinea Insurance For Private Placement

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

NAICOM Inaugurates Discount Rate Committee To Ease Insurance Contracts Under IFRS 17

2
Insurance Mastercard Joe Irukwu Passes On

Insurance Mastercard Joe Irukwu Passes On

2
AIICO Head office

Car Insurance Takes A New Turn With AIICO, ETAP ‘Redefine Partnership’

2
Authenticity Of Motor Policy, Technology Crowns Policyholders Verifying Partners

Authenticity Of Motor Policy, Technology Crowns Policyholders Verifying Partners

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

2
Ebere Nwoji Makes It Back To Back As 2023 Print Media Reporter

Ebere Nwoji Makes It Back To Back As 2023 Print Media Reporter

2
Loss Adjusters Receive Charge To Match Speed Of New Developments

Loss Adjusters Receive Charge To Match Speed Of New Developments

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

Federal Government & NAICOM Working On New Guidelines For Insuring Government Assets

2
Ilori

Maiden Insurance Week Adopts Wide Angle Lens to Capture All For Insurance

June 14, 2025
CAMCONIA Sprints With Full Vigour For Maiden Insurance Week

CAMCONIA Sprints With Full Vigour For Maiden Insurance Week

June 13, 2025

How an Insurance Company is Using Entertainment to Promote Insurance Education in Africa

June 13, 2025
Image Spin: Insurers Committee Revolving Meeting Concludes The 18th in Lagos

Image Spin: Insurers Committee Revolving Meeting Concludes The 18th in Lagos

June 12, 2025
Leadway Advocates Safety First as Nigerians Embrace The New Year

Leadway Supports Nigerian Pavilion at the London Design Biennale 2025

June 11, 2025
Sanlam and Allianz, Beacons of Global & Continental Insurance Merge to Enhance Operations in Nigeria

Sanlam and Allianz, Beacons of Global & Continental Insurance Merge to Enhance Operations in Nigeria

June 10, 2025
“Bring Your Kid to Work Day” Lights up Prudential Zenith Life on Children’s Day

“Bring Your Kid to Work Day” Lights up Prudential Zenith Life on Children’s Day

June 5, 2025
Premium Perspective: Insurers Earn Trust, Premium Spirals Up

Features of Insurance Make Insurance Rescue Made to Fit Obligation

June 2, 2025
Awards Drenched Leadway Pensure Exceeds Target, Records 25% Growth In 2023

Leadway Pensure Says Strategic, Early Informal Sector Inclusion Will Strengthen Pension Systems

May 30, 2025
AIICO Insurance Showers Joy and Hope on Visually Impaired Children on Children’s Day

AIICO Insurance Showers Joy and Hope on Visually Impaired Children on Children’s Day

May 29, 2025
ADVERTISEMENT

Recent News

Ilori

Maiden Insurance Week Adopts Wide Angle Lens to Capture All For Insurance

June 14, 2025
CAMCONIA Sprints With Full Vigour For Maiden Insurance Week

CAMCONIA Sprints With Full Vigour For Maiden Insurance Week

June 13, 2025

How an Insurance Company is Using Entertainment to Promote Insurance Education in Africa

June 13, 2025
Image Spin: Insurers Committee Revolving Meeting Concludes The 18th in Lagos

Image Spin: Insurers Committee Revolving Meeting Concludes The 18th in Lagos

June 12, 2025
Leadway Advocates Safety First as Nigerians Embrace The New Year

Leadway Supports Nigerian Pavilion at the London Design Biennale 2025

June 11, 2025
Sanlam and Allianz, Beacons of Global & Continental Insurance Merge to Enhance Operations in Nigeria

Sanlam and Allianz, Beacons of Global & Continental Insurance Merge to Enhance Operations in Nigeria

June 10, 2025
“Bring Your Kid to Work Day” Lights up Prudential Zenith Life on Children’s Day

“Bring Your Kid to Work Day” Lights up Prudential Zenith Life on Children’s Day

June 5, 2025
Premium Perspective: Insurers Earn Trust, Premium Spirals Up

Features of Insurance Make Insurance Rescue Made to Fit Obligation

June 2, 2025
Awards Drenched Leadway Pensure Exceeds Target, Records 25% Growth In 2023

Leadway Pensure Says Strategic, Early Informal Sector Inclusion Will Strengthen Pension Systems

May 30, 2025
AIICO Insurance Showers Joy and Hope on Visually Impaired Children on Children’s Day

AIICO Insurance Showers Joy and Hope on Visually Impaired Children on Children’s Day

May 29, 2025
PenOp Upgrades Appoints New Chief Operating Officer

PenOp Upgrades Appoints New Chief Operating Officer

May 28, 2025
Newly Appointed MD/CEO Of NAIC Resumes Office, Pledges Inclusive Reforms

Newly Appointed MD/CEO Of NAIC Resumes Office, Pledges Inclusive Reforms

May 28, 2025
Regulatory Reinforcements Keeps Insurance System Risks Low, Safe From Sinking Platforms of Financial Institutions

Regulatory Reinforcements Keeps Insurance System Risks Low, Safe From Sinking Platforms of Financial Institutions

May 28, 2025
Leadway Advocates Safety First as Nigerians Embrace The New Year

Leadway Group Rolls Out Third Edition of ‘Pages to Places’ Initiative Targets 10,000 Children

May 29, 2025
NEM Insurance NEM Insurance NEM Insurance
Business Post

We connect brands with buyers and sellers of insurance, pension and also project insurance and allied Businesses to the trending generation. We help the various public to adapt to the constant changes as it would impact, and also enable advertisers to connect, engage and target opportunities on line , in print and in person.

Browse by Category

  • Business Unlimited
  • Feature
  • Insurance
  • News
  • OIL & ENERGY
  • Pension
  • Travel
  • Uncategorized

Recent News

Ilori

Maiden Insurance Week Adopts Wide Angle Lens to Capture All For Insurance

June 14, 2025
CAMCONIA Sprints With Full Vigour For Maiden Insurance Week

CAMCONIA Sprints With Full Vigour For Maiden Insurance Week

June 13, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 BusinessPost

No Result
View All Result
  • Home
  • Insurance
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
  • Contact Us
  • About
  • Advertise
  • Privacy & Policy

© 2023 BusinessPost

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In