The stats: Q4 2024 - Premium growth continues, but at a slower pace
The Acturis Commercial Broking Index reveals further premium increases at the end of the year, but experts predict the market is set for softening in 2025. Ida Axling reports.
The cost of commercial insurance grew by 3.8% in 2024, driven by particularly large premium hikes in fleet and property owners.
This is according to the latest Acturis Commercial Broking Index, representing the average premium in a typical commercial book of business, which showed that 2024 was the fifth consecutive year of price increases.
In the final quarter of 2024, all of the individual classes of business represented in the index saw premiums move upwards (see chart 1), and Acturis stated
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