Global re/insurance broker MARSH said that Q4 2020 Global Commercial Insurance prices increased by 22%. The increase, the largest since the Global Insurance Market Index was launched in 2012, follows year-on-year average increases of 20% in Q3 and 19% in Q2.

The broker mentioned in a statement, although the global index increased 22%, the index shows that price increases may be starting to plateau for some lines of insurance in certain geographies.

"For example, property insurance and directors and officers (D&O) insurance pricing in the US shows signs of moderating increases, and similar trends can be seen in certain property and casualty lines in Continental Europe and Latin America and Caribbean (LAC). Regionally, Continental Europe, Asia, and LAC have now experienced moderate levels of price increases for three quarters".

"The global insurance marketplace was very challenging in 2020, and we expect these conditions to persist through the first half of 2021. Although we are seeing signs that price increases are beginning to plateau in some lines, our clients continue to face tough trading conditions", said Lucy CLARKE, President, MARSH JLT Specialty and MARSH Global Placement.