UK commercial softening approaching three year mark – Marsh
UK commercial market rates softened by 8% in the third quarter, maintaining the rate seen throughout the year and the eleventh quarterly drop in a row, according to Marsh.
The latest result outstripped the 5% global decline with UK falls in every line of business.
Property rates decreased 11%, unchanged from the prior quarter and in the same ballpark as the 10% seen in Q1.
“A quiet natural catastrophe season and the absence of major losses continued to support favourable market conditions,” Marsh reported.
In second spot was cyber. Here the pace accelerated to 7% in the three months compared to 5% in the previous quarter. However, it was still a more muted result
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