Corporate buyers boost R&W insurance growth

Insurance Business Magazine | August 26, 2019

Corporate buyers boost R&W insurance growth
Transactional risk insurance limits placed by Marsh JLT Specialty in the US and Canada reached US$16.56 billion in 2018, a 53% increase from 2017. The number of transactions closed also jumped by 40% from 359 in 2017 to 504 in 2018. In its recently published Transactional Risk Insurance Report, Marsh attributes both increases to pricing reductions, larger transactions, and more corporate/strategic buyers. The North American representations and warranties (R&W) insurance market has seen meaningful pricing reductions for a number of years, making this an attractive insurance purchase and a good sell for insurance brokers. In 2018, primary layer rates declined 11% from 2017, following a 13% decrease from 2016. As more carriers enter the space, Marsh JLT Specialty expects pricing to continue to drop, although not at such a dramatic pace.

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The Hanover sells policies exclusively through independent insurance agents and has done so for more than 165 years. We believe agents help tailor the best combination of coverage, value and price for individuals, families and businesses.

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The Hanover sells policies exclusively through independent insurance agents and has done so for more than 165 years. We believe agents help tailor the best combination of coverage, value and price for individuals, families and businesses.

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