Commercial market rate softening in the UK continued at 6% in the second quarter, according to Marsh, identical to the pace at the start of the year.
The fall in April to June was the sixth quarterly decline in a row. The downturn started at 2% in Q1 2024, picking up speed to 5% in the second half of last year.
The drop has once again outstripped the rate of softening in the global insurance market, where premiums fell 4% overall in the most recent period.
The breakdown showed that in the UK, unlike Q1, pricing in every line reduced.
Cyber
Cyber posted the biggest fall of 11%, a steeper drop than the 8% in January to March.
According to Marsh
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