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While this is the 19th consecutive quarter of increases, the rate of increase continued to moderate across most lines of business and in nearly all geographies.
Price increases in most regions were contained due to slower rates and some decreases in certain financial and professional lines, with Latin America and the Caribbean insurance prices up 5%, versus 6% in the previous quarter.
In the market, the cost of insurance during the first half of the year increased by 5%, a value below that experienced throughout 2021.
Likewise, the sectors where there was a stabilization in prices are those related to financial and professional lines, which were the ones with the highest variation in prices compared to last year, in the same way, an important stabilization could be observed, with the exception of professional liability and cyber risks, which registered considerable increases, higher than 75%.
Price increases continued throughout the region when facultative capacity was needed, particularly for countries with catastrophe exposures.