Property pricing up 6% in Q2

Raise Rise Increase Higher

Insurance pricing in the UK increased by 11% in the second quarter of the year but this was down on the 20% rise in Q1 of 2022, according to the latest research by Marsh.

Property insurance pricing increased by 6% as pricing was challenging for clients with natural catastrophe exposures and in the food, waste, warehousing, and chemical industries. It had been up by 9% in the first quarter.

According to Marsh’s research, more clients with low/medium hazard risks experienced rate reductions and some insurers sought to offset challenging exposures by packaging property coverage with motor and casualty.

Underwriters demonstrated concern with valuation, putting

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