Rates rises slowed across UK insurance towards end of 2022
The pace of rate rises across UK insurance slowed down towards the end of last year, increasing by just 4% in the fourth quarter, according to Marsh specialty and global placement data.
This compares to a 6% rise in the third quarter of last year for UK composite insurance pricing.
PropertyBreaking down the rate rises into different lines, Marsh said property rate rises remained steady at 6% in the fourth quarter, the same as the prior period.
Marsh said: “The market was competitive for low-to-medium-hazard industries, but pricing challenges remained for those with major losses or a challenging occupancy or process, such as food production, warehousing, or waste
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