Property pricing expected flat to +5% post recent NA hurricanes

Insurance intermediary Brown & Brown is cautiously optimistic in property pricing, seeing pricing developments flat (admitted markets) to +5 percent (excess & surplus markets) post recent hurricanes, according to a Morgan Stanley Oct. 17 analyst note.

Florida coastal property rates have been declining by double-digits in recent years.

Total insured losses from recent natural catastrophes such as Hurricane Harvey, Irma and Maria could hit $100 billion, according to catastrophe modelling company RMS.

Get the latest re/insurance news sent to your inbox every day -  Sign up to our free email newsletters

Other stories from this morning's newsletter

Generali terminates contract of group chief insurance officer

Zurich expects $700m Q3 nat cat impact

Allianz sells part of Taiwan life insurance portfolio to China Life

Blue Capital Reinsurance estimates Q3 nat cat impact

AIG UK underwrites Shariah-compliant warranty and indemnity policy

ARAG launches crisis communications cover for high net worth clients

Don't miss our insurtech email newsletter - sign up today