Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Florida’s Citizens Approves Rate Increases Along Coast
Jul 6 2015 // Citizens Property Insurance Corporation’s Board of Governors has approved a 2016 rate package that lowers rates for nearly half of Citizens’ personal lines policyholders while responding to increased water loss...
P/C Direct Premium Written Up Nearly 4 Percent
Jul 6 2015 // Direct premium written (DPW) for property/casualty insurance companies continues to increase, albeit gradually. At year-end 2014, more than $570 billion of DPW was reported, a record-high for the industry. For 2014, total...
Guy Carpenter Confirms Slowing of Pricing Declines in June Renewals
Jul 1 2015 // Guy Carpenter & Company, LLC, has reported that “after two years of price decreases averaging 15 percent on U.S. property catastrophe placements, risk-adjusted pricing moderated at the most recent June...
Advanced Markets Drive 3.7% Global Premium Growth in 2014: Swiss Re
Jun 24 2015 // The global insurance industry gained momentum in 2014, with total direct premiums increasing by 3.7 percent to $4.778 trillion after having stagnated the previous year, according to Swiss Re’s latest...
Health Insurers Ask Pennsylvania Regulators for Big Rate Hikes
Jun 10 2015 // A national upswing of health insurance rates is coming to Pennsylvania, and that could mean bigger-than-expected cost increases next year for at least a couple hundred thousand Pennsylvanians who bought insurance in the...
Allianz to Shrink German Branch Network; Hit by Low Interest Rates
Jun 10 2015 // Allianz SE, Europe’s biggest insurer, said it will shrink its administrative branch network in Germany as low interest rates and regulatory demands hurt industry profitability. About 360 jobs, or about 1 percent of...
Price Declines Slow on June U.S. Reinsurance Renewals: Guy Carpenter
Jun 5 2015 // After two years of price decreases averaging 15 percent on U.S. property catastrophe placements, risk-adjusted pricing moderated at the most recent June renewals. Reinsurance broker Guy Carpenter & Co. reported that...
Health Insurers in Illinois, Michigan Seeking Rate Hikes for 2016
Jun 3 2015 // Blue Cross Blue Shield and Blue Care Network, which sell medical insurance to more than half of Michigan residents who buy their own coverage under the federal health care law, are seeking 2016 premium increases that...
Some Insurers Seeking 10-20% Rate Hikes on Obamacare Businesss
Jun 3 2015 // U.S. health insurers are submitting their 2016 rate requests for Affordable Care Act policies, with some asking for big increases as they adjust to customers who’ve recently gained coverage through the...
Swiss Re Targets Nigerian Acquisition, Seeking to Tap African Growth Rates
Jun 2 2015 // Swiss Re AG, which has had an African presence for more than 60 years, said it’s in talks with Nigerian insurers to buy minority stakes and benefit from growth in the continent’s largest...
Louisiana Citizens Property Insurance Mulling Coastal Rate Hike
Jun 1 2015 // More than 65,000 homeowners in coastal parishes covered by the Louisiana’s property insurer of last resort could see their rates jump 10 percent in mid-August. Under state law, Louisiana Citizens Property Insurance...
Growing Yemen War Risk Threatens Vital Sea Routes; Premiums Likely to Jump
May 14 2015 // With Middle East giants Saudi Arabia and Iran squaring up on opposing sides in the Yemen war, the dangers to vital oil tanker and goods voyages are growing daily. Millions of barrels of oil pass through the Bab el-Mandeb...
Hiscox Reports 12% Hike in Gross Written Premiums on Good Claims Experience
May 12 2015 // Bermuda-based Hiscox Ltd., the international specialist insurer, reported gross written premiums increased by 12 percent to £561.7 million ($869.6 million), compared to £501.6 million ($776.6 million) reported during the...
European Insurers’ Dividend Growth Unlikely With Rock-Bottom Interest Rates
May 11 2015 // Expectations of rising dividends and share buybacks from Europe’s insurance companies are fading as ultra low interest rates make it harder for them to meet new capital regulations. Rock-bottom interest rates reduce...
Beazley Reports Q1 Premiums Up 6% to $546 Million
May 8 2015 // Beazley plc reported that first quarter premiums grew by 6 percent to $546 million, compared to $516 million in 2014. Beazley’s largest division, specialty lines, wrote $226 million during the first quarter, which is...
RSA Q1 Premiums Rise 1% to $2.3 Billion in Competitive Markets
May 7 2015 // RSA Insurance Group plc, the U.K.’s second-largest non-life insurer by market value, said revenue for the first quarter edged higher as it disposed of assets. Net written premiums for its core operations rose 1...
Allstate Says Profit Up 13% in Q1; Will Raise Auto Rates
May 6 2015 // Allstate Corp., the largest U.S. publicly traded seller of auto and home insurance, said first-quarter profit rose 13 percent as margins improved at the property- liability business and catastrophe losses fell. Net income...
California Workers’ Comp Premium Up 11% in 2014; Combined Ratio Still Exceeds 100
May 4 2015 // California written premium for calendar year 2014 was roughly $16.5 billion, 11 percent above 2013 and 88 percent above the written premium reported for 2009, according to a report from the California Workers’...
SCOR Global P&C Posts 5.8% Premium Increase for April Renewals
Apr 29 2015 // French reinsurer SCOR reported that the April renewals saw SCOR Global P&C’s gross written premiums increased by 5.8 percent from €374 million [$411 million] to €396 million [$436 million], at constant...
California Department of Insurance Approves CEA Rate Reduction
Apr 23 2015 // California Insurance Commissioner Dave Jones approved a statewide rate reduction of 10 percent for earthquake insurance policies issued by the California Earthquake Authority. The reduction is effective Jan. 1, 2016. Jones...
