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Latin America and Caribbean Insurance Market Rates

The Global Insurance Market Index is our proprietary measure of commercial insurance rate changes at renewal. Below are insights into the Latin America and Caribbean (LAC) insurance market.

Q4 2025

Latin America and Caribbean rates decrease

Insurance rates in the region decreased 7% in the fourth quarter, compared to -6% in the prior quarter.

Latin America and Caribbean composite insurance rate change

Latin America and Caribbean property

Property insurance rates decrease for fifth consecutive quarter

Property insurance rates declined 12%.

The property market saw significant available capacity and intense insurer competition.
Rate reductions were generally highest in Chile and Brazil.
International capacity in sabotage and terrorism (S&T) coverage increased, and rate reductions were widely available, despite regional political and economic uncertainties.

Latin America and Caribbean casualty

Casualty rates flat

Casualty insurance rates were flat overall, driven by motor rate increases in Argentina and Mexico.

Coverage for third-party liability remained highly competitive, with discounted renewals common.
Non-motor casualty rates declined in Brazil, Chile, Mexico, and Peru.

Latin America and Caribbean financial and professional lines

Financial and professional lines rates decline

Financial and professional lines rates declined 10%, the ninth consecutive quarter of decline.

Strong insurer competition and ample capacity drove rate declines.
Directors and officers (D&O) liability rates declined by 5% to 15% for some accounts; those facing greater regulatory scrutiny or adverse claims generally experienced rate increases.

Cyber rates decline, capacity expands

Cyber insurance rates declined 14%, compared to an 11% decrease in the prior quarter.

An increased number of cyber incidents, particularly in Brazil, Mexico, and Argentina, affected large clients and influenced overall pricing.
Lower retentions and broader coverage options were available.
Supply chain incidents increased insureds’ exposure to vendor-related losses in interconnected industries.
Data privacy enforcement matured regionally, led by Chile and Brazil, which increased compliance and notification obligations.

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

Global Insurance Market Index

02/04/2026

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

Aerial view of the Bay Bridge in San Francisco, CA

Global Insurance Market Index

US insurance rates

02/04/2026

Insurance rates in the US were flat in the fourth quarter.

Skyline of London over Tower Bridge on the Thames

Global Insurance Market Index

UK insurance rates

02/04/2026

Insurance rates in the UK declined 7% in the fourth quarter of 2025.

Berlin, Germany viewed from above the Spree River.

Global Insurance Market Index

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Latin America and Caribbean Insurance Market Rates

Latin America and Caribbean rates decrease