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Untested Chinese Capacity Affecting Rate Environment

U.S. property insurance rates are showing signs of softening partly due to increased capacity from Chinese insurance companies. But Chinese carriers willingness to pay claims in the face of a major loss event has yet to be tested.

By Mark E. Ruquet | Updated on July 17, 2013

U.S. property insurance rates are showing signs of softening partly due to increased capacity including growing interest from Chinese insurance companies, says an executive from Marsh. However, Chinese carriers’ willingness to pay claims in the face of a major loss event has yet to be tested.

During a webinar, “Midyear 2013 Insurance Market Update,” Duncan Ellis, Marsh’s U.S. property practice leader, says carriers continue to push for rate, but increased competition and capacity, as well as the lack of a major loss through the first half of this year has translated translates into rates being “flat or down in many cases.”

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