Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Beazley First-Half Profit Rises 16%, Led by U.S. Premium Growth
Jul 24 2015 // Beazley plc, the first Lloyd’s of London insurer to report earnings, had a 16 percent increase in first-half profit, helped by growth in its U.S. business. Pretax profit rose to $154.5 million from $132.9 million a...
Ohio Sees Rise in Auto, Homeowners Insurance Rates in 2014
Jul 23 2015 // Ohio Lieutenant Governor Mary Taylor announced that average rates for the top 10 private passenger auto and homeowner’s insurance groups in Ohio increased 2.6 percent and 4.3 percent, respectively, in 2014. The...
Citizens to Hold Off on 2016 Sinkhole Rate Increases, For Now
Jul 20 2015 // In Citizens’ 2016 rate proposal, approved last month by the Citizens Board of Directors and awaiting approval by the Florida Office of Insurance Regulation, the insurer of last resort did not recommend any sinkhole...
Home Insurance Rates in Massachusetts Rising After Harsh Winter
Jul 14 2015 // Some of the largest home insurers in Massachusetts are raising premiums by about 9 percent to recoup what they paid out in claims for damage caused by last winter’s record-setting snowfall. The Boston Globe reports...
UK Insurers Ponder Implications of Premium Tax Increase
Jul 14 2015 // The unexpected announcement in UK Chancellor George Osborn’s budget, which would raise the Insurance Premium Tax (IPT) from 6 percent to 9.5 percent starting in November, poses a problem for UK-based insurers. David...
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...
