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Global Insurance Market Index

The Global Insurance Market Index is our proprietary measure of global commercial insurance premium pricing change at renewal, providing insights on the world's major insurance markets.

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4%

Global commercial insurance prices rose by 4% in the fourth quarter of 2022.

22%

The pace of rate increases slowed for the eighth consecutive quarter; global composite increases peaked at 22% in the fourth quarter of 2020.

Commercial insurance pricing increases continue to moderate

Global commercial insurance pricing rose 4% in the fourth quarter of 2022, compared to 6% in the prior quarter, according to the Marsh Global Insurance Market Index. The overall pace of pricing increases slowed for the eighth consecutive quarter; increases peaked at 22% in the fourth quarter of 2020.

The fourth quarter was the twenty-first consecutive in which composite pricing rose, continuing the longest run of increases since the inception of the index in 2012. The quarter’s pricing moderation was driven largely by a 6% decrease in financial and professional lines and the continued moderation in cyber pricing.

Constant bar chart represents Global Insurance Composite Pricing Change.

Key highlights

Regionally, composite pricing increases for the fourth quarter were as follows:

3%

United States

4%

United Kingdom

6%

Continental Europe

7%

Latin America and the Caribbean

2%

Asia

5%

Pacific

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Global Insurance Market Index

US Pricing

Insurance pricing in the fourth quarter of 2022 in the US increased by 3%, compared to 5% in the prior quarter.

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Global Insurance Market Index

UK Pricing

Insurance pricing in the UK increased 4% in the fourth quarter, compared to 7% in the third quarter.
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Global Insurance Market Index

Latin America and Caribbean Pricing

Insurance pricing in the fourth quarter in the Latin America and Caribbean (LAC) region increased 7%, compared to 5% in each of the prior two quarters.
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Global Insurance Market Index

Continental Europe Pricing

Insurance pricing in the fourth quarter in Continental Europe (CE) increased 6%, the same rate of increase as in the prior three quarters.
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Global Insurance Market Index

Pacific Pricing

Insurance pricing in the Pacific region increased 5% in the fourth quarter, the same as in the prior quarter.
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Global Insurance Market Index

Asia Pricing

Insurance pricing in the fourth quarter in Asia increased 2%, the same as in in the prior quarter.

Q3 2022 Global Insurance Market Index

Global Insurance Market Index – 2022 Q4

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GIMI Q3 2022

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