Marsh: global commercial insurance rates fall 5% in the third quarter, the ninth consecutive decline

Marsh's Global Insurance Market Index, published on 21 October, shows that global commercial insurance rates fell by an average of 5% in the third quarter of 2026. Rates had fallen 6% in the second quarter. The broker says this is the ninth consecutive quarter of decreases.

Every region recorded lower composite rates. The largest fall was in India, the Middle East and Africa (IMEA), at 14%, followed by the Pacific at 12%, Latin America and the Caribbean at 9% and the UK at 8%. Canada, Europe and Asia each fell 6%. The US was almost flat, with a 1% decrease after 2% in the second quarter.

Property continued to drive the decline, with global rates down 10% after 12% in the second quarter. Property rates fell 15% in IMEA, 14% in the Pacific, 13% in Latin America, 11% in the UK and 10% in the US. Casualty rates rose 1% globally, and the US was the only region with increases, at 6% after 7%. Financial and professional lines fell 3%, the seventeenth consecutive decrease, although US rates in that class rose 1%. Cyber rates fell 4%, the thirteenth consecutive decrease, with US cyber rates flat.

John Donnelly, president of global placement at Marsh Risk, attributed the continued opportunities for buyers to "strong capacity and competition across much of the market" and favourable reinsurance conditions. Reinsurance News reported that he also said geopolitical uncertainty and economic concerns remain part of the operating environment, as some buyers keep savings rather than add cover.