Property and casualty (P&C) rates are likely to continue to increase for some time, according to the chairman of American International Group (AIG).
Maurice Greenberg, speaking at a conference in New York, said AIG has been seeing rate increases of 40% to 60% in many commercial lines. He added that directors' & officers' (D&O) insurance rates continue to increase.
Property rate hikes were down to annual 15% rise, while AIG's foreign property-casualty business remains strong, he added.
He said the majority of new premiums in its property-casualty business had been driven by rate increases and not new policies.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
