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The only major product line to see rate increases was casualty. -
Rates for umbrella accelerated to 9.26%, from 8.76% in Q4 2024.
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California wildfires had ‘little or no impact’ on property cat pricing at April 1, Dean Klisura said.
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After seven years of premium rate growth, rates are down 5% to 40% across the US.
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The release followed the filing of an updated Plan of Operation.
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Despite positive inflation headlines, there are issues for insurers under the surface.
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Technical pricing is insufficient in some areas and inflation is biting into margins.
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The medical CPI is up 3% for the last 12 months.
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The Gallagher Re executive called on the market to “prepare to grow sustainably together”.
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Even if M&A activity picks up, Atlantic does not expect R&W rates to jump significantly.
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The costs of accident/casualty-related claims continue to rise.
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Inflation, tariffs and climate change are all making for an uncertain 2025.
