Marsh reports easing of UK commercial pricing rises
Commercial insurance pricing in the UK rose by 7% in the third quarter, according to research by Marsh.
This was down on the 11% annual rise posted in the second quarter and far below the 20% leap recorded by the Global Insurance Market Index in Q1.
However, prices in Q3 were still rising faster in the UK than globally, the worldwide figure was a 6% uptick.
According to the broking giant, cyber pricing in the UK eased in the three months. The year-on-year rise of 66% was far below the peak 102% hike posted in Q1.
Marsh though warned: “We are cautious regarding the improvement in cyber insurance
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insight
Howden bolsters presence in the North West with Manchester headquarters
Howden Insurance as opened its first North West headquarters with a new office in Manchester, boosting the broker's presence in the region.
Aviva UK general insurance GWP soars by 18%
Aviva UK has reported an 18% rise in general insurance gross written premiums to £5.7bn over the first nine months of 2024.
FCA promises reframed and revised ‘name and shame’ plans but no decision until early next year
In a House of Lords Financial Services Regulation Committee evidence session earlier today, Financial Conduct Authority CEO Nikhil Rathi said no decision will be made on its investigation transparency proposals consultation until early next year.
Bridge launches wholesale division with new recruits
Bridge Insurance Brokers is launching a specialist wholesale division for real estate business to work with third-party brokers.
FCA closes in on authorisation targets as performance rises again
The Financial Conduct Authority has improved its delivery on the two broker-related authorisation metrics that remain in the ‘amber’ zone as it hones in on delivering a ‘green’ performance in all five relevant categories.
Howden opens in Canterbury
Howden Insurance has opened in Canterbury, adding to its network of over 200 branches.
Second quarter of motor premium falls in a row – ABI
The average motor insurance premium fell by 2% in July to September to £612, according to the latest data from the Association of British Insurers, the second consecutive quarterly drop.
EY revises insurer income growth forecasts but trend remains down
EY has released improved premium income forecasts for UK non-life insurers but maintained its view of slowing growth in 2024, 2025 and 2026.