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世界人口l Insurance Pricing Increased in Q4 2020 — But Is Showing Signs of Plateau

全球商业保险价格在2020年第四季度平均上涨了22%,尽管有迹象表明,一些地区的价格上涨可能趋于平稳。

It was the thirteenth consecutive quarter of increases in the Marsh Global Insurance Market Index and the largest increase observed since the index’s inception in 2012 (see Figure 1).

The U.K. and Pacific region led the increases, with average composite insurance pricing up by 44% and 35%, respectively (see Figure 2). Average pricing in the U.S. rose by 17%, down slightly from the 18% year-over-year increase experienced in the third quarter.

Continental Europe (14%), Asia (11%) and Latin America and Caribbean (9%) have had moderate levels of pricing increases for three quarters, which suggests that price hikes are slowing in these regions. Pricing increases also may be starting to plateau for certain insurance products in certain geographies — for example, directors and officers (D&O) and property in the U.S. — due in part to new capacity entering the market.

三大主要产品线均显示全球平均价格上涨,其中金融和专业产品线上涨47%,财产类上涨20%,意外伤害类上涨7%。

图1:全球保险综合定价变化

来源:Marsh Global Analytics

Figure 2: Composite Insurance Pricing Change by Region

来源:Marsh Global Analytics

US Insurance Pricing Increases 17%

Led by increases in property and financial and professional lines, U.S. insurance pricing in the fourth quarter increased an average of 17%.

财产美国的价格已经连续13个季度上涨,第四季度平均上涨18%。约75%的续约客户出现增长,略低于前几个季度。

财务和专业线in the U.S. increased an average of 28% in the quarter. D&O pricing was up 44%, less than the 51% year-over-year increase seen in the previous quarter. About 95% of clients experienced an increase, and 15% reduced their limits. D&O pricing continued to moderate during the fourth quarter, and this trend is expected to continue through the first half of 2021, barring unforeseen changes in conditions.

网络保险价格平均上涨17%;勒索软件攻击仍然是一个主要问题。

伤亡pricing in the U.S. increased an average of 9% in the fourth quarter. Workers’ compensation pricing declined 4%, on average; excluding workers’ compensation, casualty pricing increased 15%, on average.

英国价格上涨

Overall, insurance pricing in the fourth quarter of 2020 in the U.K. increased 44%, the highest of any region.

财务和专业线increased 90%, largely due to pricing for D&O, where renewals were extremely challenging as insurers cited a deterioration in claims, a COVID-impacted economy, insolvencies, wrongful trading, and a lag on claims post government support.

Cyber pricing increased 25% to 30%, on average.

英国的房地产价格平均上涨了24%。一般来说,较大的客户获得了较高的增长,在30%至35%的范围内,他们的续约特点是就条款和条件进行了重大谈判。

本季度伤亡定价平均上涨6%,连续第六个季度上涨。

亚洲价格上涨

Insurance pricing in the fourth quarter of 2020 in Asia increased 11%, year-over-year.

财产insurance pricing rose 16% in the region, on average. In most countries, the domestic marketplace insulated small to medium enterprise clients from the sharpest increases.

伤亡本季度价格总体持平。

该地区的金融和专业产品线价格平均上涨22%,为数年来最大涨幅。产能的减少,特别是来自全球保险公司的产能减少,以及全球承保业绩不佳的推动,促成了定价的提高。在美国上市的D&O风险受到的影响最大,在保险公司偏好有限的情况下,风险增幅高达100%。

Insurance Pricing by Region

第四季度的其他区域亮点包括:

  • Continental Europe整体综合保险定价平均增长14%。金融和专业线路的平均价格上涨了22%,房地产价格上涨了19%。
  • 年综合定价上涨9%Latin America,与第三季度持平,并连续第十三个季度增长。房地产价格平均上涨16%,金融和专业行业平均上涨22%。
  • 今年保险价格上涨了35%太平洋region. Property pricing rose 31%, on average. Financial and professional lines rose 51%, on average, with public company D&O rising more than 100% in many cases, with reduced limits common.
Lucy Clarke

Lucy Clarke

President of Marsh JLT Specialty and Global Placement

Lucy是Marsh JLT Speciality的总裁,Marsh Global Placement的总裁,也是Marsh执行委员会的成员。Lucy于2019年4月加入Marsh,作为收购JLT Group的一部分,她在该公司担任了17年的主要领导职务,包括JLT Specialty(JLT Group的保险和风险部门)的首席执行官。露西毕业于范德比尔特大学,自1990年以来一直在伦敦工作。

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