Property insurance rates on the rise. Marsh & McLennan Companies, a global risk and insurance services firm, has begun claiming that property insurance rates all over the world are on the rise. The increase in these rates suggests a solidifying of the global market and could be an implication of an improving economy. Marsh notes that consumers are paying more for their insurance coverage due to the high frequency of natural disasters in the past two years. Another factor that is contributing to higher rates the way insurance companies are…
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Insurance giant reports a surprise in earnings
The world’s second largest insurance company, Marsh & McLennan Cos. Inc., has defied predictions by analysts and reported strong fourth quarter earnings. The insurer is also declaring earnings growth in 2011 driven by a recovering economy. The growth is estimated to affect all segments of the insurer. Last year, MMC completed a deal to acquire the HSBC Insurance Brokers unit. The deal had an impact on the company’s earnings as they took restructuring charges to the acquisition. MMC expects to continue to acquire smaller regional insurance brokerages in the future…
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