US wholesale property softening unabated Q4, 8.5% at end-year: CRC

Wholesale property insurance rate softening showed signs of stabilising during the fourth quarter, albeit amid the deepest YoY declines seen to date, with average renewal pricing down 8.3-8.6%% year on year during the quarter, a pricing index by the CRC Group indicated. Some 87% of renewing accounts secured rate reductions during the quarter.