{"id":10344,"date":"2024-08-14T13:12:34","date_gmt":"2024-08-14T18:12:34","guid":{"rendered":"https:\/\/www.bbrown.com\/?post_type=insight&p=10344"},"modified":"2024-08-14T13:12:34","modified_gmt":"2024-08-14T18:12:34","slug":"two-minute-takeaway-multinational-q3-2024-market-trends","status":"publish","type":"insight","link":"https:\/\/www.bbrown.com\/us\/insight\/two-minute-takeaway-multinational-q3-2024-market-trends\/","title":{"rendered":"Two-Minute Takeaway: Multinational | Q3 2024 Market Trends"},"content":{"rendered":"

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Property & Casualty<\/p>\n

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Multinational Casualty<\/h3>\n

The multinational casualty market continues to show flat to moderate rate decreases. These rate trends remain influenced by three core factors: favorable loss performance, heightened global exposure and reduced costs due to technology.<\/p>\n

Loss performance primarily drives rate decisionmaking year-over-year, with minimal claims activity leading to a flat to nominal rate decline. Heightened exposures, driven by global inflation and customer growth, enable economies of scale pricing strategies, reducing program rates and premiums. Additionally, technological advancements across various functions are providing a catalyst for reduction in issuance costs, exposure collection and accuracy, and global program management.<\/p>\n

Overall, the market outlook remains positive for the remainder of 2024, with proactive discussions and collaborative efforts to address emerging risk factors within evolving global markets. These preparatory measures are essential for achieving the best outcomes amidst dynamic market conditions.<\/p>\n

Inflation and Tax<\/h3>\n

Globally, inflation has seen year-over-year increases since 2020 (source: Moody Analytics). Since 2020, the global inflation rate has ranged from +3% in 2020 to +9% in 2022. Several resulting considerations include the following:<\/p>\n