Marsh attributed the slightly lower price increases to improved rating stability in property insurance, as well as financial and professional lines. Global property insurance pricing was up an average of 15%, down from the 20% increase in Q4 2020. Meanwhile, casualty pricing was up 6% on average, from 7% in Q4, and pricing in financial and professional lines had the highest rate of increase among major insurance product categories at 40%, compared to 45% in Q4.
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While the average price increases may have dipped, the increases themselves are still significant