Reinsurance News
commercial insurance
Renewal rates down for most commercial lines month over month: Ivans
6th March 2025
Ivans, a division of Applied Systems, has released its February 2025 Ivans Index results, showing that average premium renewal rates were down month over month for most major commercial lines of business, except Commercial Auto. Year over year, Commercial Auto, BOP, General Liability, Commercial Property, and Umbrella saw increasing average premium ... Read the full article
Commercial lines renewal rate growth slows in January: Ivans
14th February 2025
Ivans, a division of Applied Systems, has released its January 2025 Ivans Index results, showing that more major commercial lines saw a deceleration rather than an acceleration in average premium renewal rates year over year. Month over month, Commercial Auto, BOP, and Commercial Property saw decreases in renewal rate changes, while ... Read the full article
YoY decrease in rate changes across all commercial lines in Q4’24: Applied Systems
10th February 2025
Applied Systems has released the fourth-quarter 2024 results of the Applied Commercial Index, the Canadian insurance industry’s premium rate index, showing a decline in average premium renewal rate increases across all lines, with a 5.02% rise in Q4’24, down from 7.55% in Q4’23. Quarter over quarter, Q4’24 results revealed a decrease ... Read the full article
Reconstruction costs surge over 10 years, with stabilisation expected in 2025: Verisk
27th January 2025
Verisk, a company specialising in data analytics and risk assessment, has published a detailed report examining trends in reconstruction costs for residential and commercial properties across the United States. This comprehensive analysis, covering October 2014 to October 2024, draws on Verisk’s extensive building cost research and provides insights into the factors ... Read the full article
Renewal rate increases for all commercial lines except workers’ comp: Ivans
21st January 2025
Ivans, a division of Applied Systems, has released its Q4 2024 and year-end results for the Ivans Index, showing year-over-year premium renewal rate increases across all major commercial lines of business, except Workers’ Compensation. Compared to Q3 2024, Commercial Auto, Business Owner’s Policy (BOP), and Umbrella saw higher average premium renewal ... Read the full article
US commercial insurance composite rates up 3.75% in 2024: MarketScout
7th January 2025
The US commercial insurance sector saw a composite rate increase of 2.64% in Q4 2024, bringing the total increase for the year to 3.75%, down from 4.56% in 2023, according to a recent analysis by MarketScout. Richard Kerr, CEO of Novatae, observed that property rates are slowing due to fewer insured ... Read the full article
US commercial insurance to remain stable, property performs despite cat losses: Lockton
17th December 2024
According to a new Lockton Market Update report, while the US commercial insurance market remains generally stable and predictable for buyers, a sense of fragility persists as insurers and business leaders monitor natural catastrophes, rising social inflation, and an uncertain geopolitical landscape. Lockton, the independent insurance broker, also highlights US economic ... Read the full article
WTW’s CLIPS reveals US commercial insurance rates climbed 6.1% in Q3’24
11th December 2024
Global re/insurance broker WTW's latest Commercial Lines Insurance Pricing Survey (CLIPS), US commercial insurance rates climbed by 6.1% during the third quarter of 2024. Based on the firm's CLIPS for Q3'24, the collective commercial price change reported by insurance carriers reflects a modest rise compared to 5.9% in Q2 2024 (6.1% ... Read the full article
Outlook remains stable for US commercial lines, says AM Best
2nd December 2024
AM Best, the global credit ratings agency, is maintaining its stable market segment outlook on the US commercial lines insurance sector for 2025, supported by the segment's strong underwriting performance and improved investment returns, both of which have bolstered operating profitability. According to the agency, the stable outlook reflects AM Best's ... Read the full article
RSA launches UK Climate Professionals PI product
18th November 2024
RSA Insurance, a provider of commercial insurance, has launched a Climate Professionals Professional Indemnity (PI) insurance product. This is the first offering in the UK specifically designed for companies and consultants advising on sustainability, net zero goals, and climate-related strategies. PI insurance is essential for businesses and consultants providing expert advice or ... Read the full article
Antares restructures business unit alongside UK insurer launch
4th November 2024
Antares Global, the multinational group of insurance and related service companies, has announced the restructure of its underwriting operations, aligning all its business units within two streams of operation, Retail and Commercial. The changes, driven by two years of reorganisation and investment, have delivered impressive financial results, Antares highlights. With separate underwriting ... Read the full article
QBE NA appoints Beazley’s Matt Westhoff as President of Commercial Insurance
30th October 2024
QBE North America, part of the global insurer, has announced the appointment of Matt Westhoff as President of its Commercial Insurance business, effective November 11, 2024. In this role, Westhoff will oversee QBE’s $1 billion-plus Commercial Insurance portfolio, covering workers' compensation and property programs, commercial construction, and specialty casualty lines. His ... Read the full article
Beat launches commercial middle market property specialist Fallow Grove
18th October 2024
Beat Capital Partners, a London-based incubator of underwriting franchises and a subsidiary of Ambac Financial Group, Inc., has launched Fallow Grove Insurance Services in partnership with former CrossCover executive Brett Dupre. The Fallow Grove product offering primarily specialises in technical and general commercial property insurance for excess and surplus lines, tailored ... Read the full article
US commercial insurance reports composite rate increase of 3.8% in Q3’24: MarketScout
14th October 2024
The US commercial insurance sector saw a composite rate increase of 3.8% in Q3 2024, with property insurance up 5.7% and commercial auto and transportation risks experiencing the highest rise at 7.3%. MarketScout notes that although insurers expected significant impacts from Hurricane Helene, much of the damage appears to be flood-related, ... Read the full article
Triple-I & Milliman reveals US P&C H1’24 are underwriting results better than expected
11th October 2024
According to the latest forecasting report by the Insurance Information Institute (Triple-I) and collaborating partner, Milliman, the first-half economic and underwriting results for the US property and casualty (P&C) industry were better than expected. The report, Insurance Economics and Underwriting Projections: A Forward View discloses that the net combined ratio (NCR) ... Read the full article
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