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Global Insurance Market Index

The Global Insurance Market Index (GIMI) is our proprietary measure of global commercial insurance rate change at renewal — providing insights into the world's major insurance markets.

GIMI Q1 2026

Global insurance rates declined 5% in the first quarter of 2026, marking the seventh consecutive quarter of rate decreases. Property rates dropped by 9% while casualty rates increased 3%, driven by challenges in the US.

Rate movement continued to be generally fuelled by available capacity and high levels of insurer competition across most major product lines.

The global property composite rate declined 9% in the quarter — the same as in the prior quarter — supported by favourable reinsurance terms and a significant capacity oversupply. Insurers have broadened their appetite, targeting more complex industries and the middle market, where competition levels are increasing.

US casualty remains an outlier, with rate increases driven by persistent claims severity, particularly in excess layers. Although capacity remains, many insurers have reduced available limits. Rates declined in every other region and particularly for companies without US exposure.

Financial and professional insurance rates continued to decline, although underwriting has become more selective across various segments. This was most pronounced in the US and in parts of Europe, while other regions continue to see moderate rate reductions.

Cyber was the only major line seeing notable expansion of supply and demand, as many organisations purchased coverage for the first time or sought higher limits and a more stable claims environment contributed to attracting additional insurers.

Given broad economic uncertainty and inflationary pressures, many clients took a conservative approach to capture savings. Others responded to declining rates by increasing risk transfer in their programme structures, increasing limits, or adjusting retentions.

The impact of the Middle East conflict has to date been confined principally to risks within the region. Premium rates for aviation, marine hull cargo, and political violence have increased sharply, and while capacity is still available, insurers are being cautious.

The generally decreasing rate environment is expected to persist as long as insurer profitability remains strong. Clients should work closely with their brokers to evaluate their risk appetite, assess programme structure, and take advantage of evolving market opportunities.

- John Donnelly, President, Global Placement

Q1 2026

Global insurance markets: Composite rate continues to decline

In the first quarter of 2026, global commercial insurance rates declined by 5%, marking the seventh consecutive quarter of rate decreases following seven years of increases, according to Marsh’s Global Insurance Market Index (GIMI).

The downward trend was supported by significant insurer capacity, driven by reinsurer growth and the entry of new insurers, which increased competition levels and generally enabled more favourable terms and broader coverage options for clients.

Composite rate declines between 5% and 12% were observed across all regions except the US, where rates decreased 1% after being flat in the prior quarter. The Pacific region experienced the steepest decline, at 12%.

Many clients, particularly those with strong risk profiles, used the decreasing rate environment to negotiate improved terms, enhance coverage, and explore alternative risk transfer solutions such as self-insurance and captives.

Global Insurance Market Index first quarter 2026

Global composite insurance rate change

*Note: All references to rate and rate movements in this report are averages, unless otherwise noted. For ease of reporting, we have rounded all percentages regarding rate movements to the nearest whole number.

Global composite insurance rate change – by region

Global product line trends, Q1 2026:

Property rates declined by 9%.
Casualty rates increased 3%, driven by a rise of 9% in the US. All other regions experienced a decline, reflecting less litigious legal environments.
Financial and professional lines rates decreased 5%.
Cyber insurance rates declined by 5%.

Our rates reflect the segment mix of Marsh’s client portfolio.

Aerial view of the Bay Bridge in San Francisco, CA

Global Insurance Market Index

US insurance rates

04/22/2026

Insurance rates decreased in the US in the first quarter.

Skyline of London over Tower Bridge on the Thames

Global Insurance Market Index

UK insurance rates

04/22/2026

Insurance rates in the UK declined 8% in the first quarter.

Global Insurance Market Index

Latin America and Caribbean insurance rates

04/22/2026

Insurance rates in the region decreased 8% in the first quarter.

Berlin, Germany viewed from above the Spree River.

Global Insurance Market Index

Europe insurance rates

Insurance rates in Europe declined 5% in the first quarter.

Beautiful aerial view of the Sydney Opera house by the bay in Australia. Panoramic view.

Global Insurance Market Index

Pacific insurance rates

Insurance rates in the Pacific region declined 12% in the first quarter.

Global Insurance Market Index

Asia insurance rates

Insurance rates in Asia declined 5% in the first quarter.

Canada insurance rates

Insurance rates in Canada declined 6% in the first quarter.

Skyscrapers in Abu Dhabi, United Arab Emirates.

India, Middle East, and Africa insurance rates

22/04/2026

Insurance rates in the first quarter decreased 10% in the IMEA region.

This publication is not intended to be taken as advice regarding any individual situation and should not be relied upon as such. The information contained herein is based on sources we believe reliable, but we make no representation or warranty as to its accuracy. Marsh shall have no obligation to update this publication and shall have no liability to you or any other party arising out of this publication or any matter contained herein. Any statements concerning actuarial, tax, accounting, or legal matters are based solely on our experience as insurance brokers and risk consultants and are not to be relied upon as actuarial, accounting, tax, or legal advice, for which you should consult your own professional advisors. Any modelling, analytics, or projections are subject to inherent uncertainty, and any analysis could be materially affected if any underlying assumptions, conditions, information, or factors are inaccurate or incomplete or should change.

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Global Insurance Market Index

Global insurance rates declined 5% in the first quarter of 2026, marking the seventh consecutive quarter of rate decreases. Property rates dropped by 9% while casualty rates increased 3%, driven by challenges in the US.