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IMEA Insurance Market Rates

The Global Insurance Market Index (GIMI) is our proprietary measure of commercial insurance rate changes at renewal. Below are insights into the India, Middle East, and Africa (IMEA) insurance market.

Q1 2026

India, Middle East, and Africa rates decline

Insurance rates in the first quarter decreased 10% in the IMEA region, where rates for large and complex organisations are often impacted by the reinsurance market.

Property rates decline, with regional variation

Property insurance rates decreased 10%.

Property rate declines were generally driven by stable capacity and high levels of competition.
The Middle East and Africa saw rate declines ranging from 5% to 20%; India experienced decreases up to 45%, though typically lower.
Catastrophe-exposed and high-hazard sectors (chemical, food, waste, recycling) experienced declines of up to 25% in India; insureds in other regions generally saw declines of 5% to 15%.
Regional and multinational reinsurers expanded their presence across IMEA, increasing competition, particularly in the Middle East and Africa.
Major claims were notified in both the political violence (PV) and property markets due to the ongoing regional conflict and recent weather-related storms.
- PV capacity shrunk from more than $1 billion to about $200 million (at the time of writing).
- PV pricing increased, with rates on-line in the range of 2% to 11%.

Casualty insurance rates decline

Casualty insurance rates decreased 7%, compared to a 5% decline in the prior quarter.

Pricing varied by region, with the largest declines generally seen in India.
A new civil code in the UAE removed previous legal monetary compensation caps for death or injury (formerly US$54,000 per person).
US exposures influenced regional appetite and capacity.

Financial and professional lines rates decline, with regional variation

Financial and professional lines rates declined 6% compared to 11% in the fourth quarter.

Directors and officers (D&O) liability rates decreased 30% in India; 10% to 15% in the UAE and Saudi Arabia; and ranged from stable to 5% declines in South Africa.
Financial institutions rates ranged from flat to 5% declines in the Middle East, supported by capacity from London and Dubai; rates in India declined 15% to 20%.
Professional indemnity rates ranged from stable to 5% increases in South Africa, while declining 10% to 15% in India and ranging from flat to 5% declines in the Middle East.

Cyber insurance rates decline as capacity increases

Cyber insurance rates decreased 14%, compared to an 8% decline in the prior quarter.

The Middle East experienced declines between 5% and 10%, while India saw sharper decreases averaging 30%.
Rates in South Africa were flat.
Middle East capacity growth was driven by new entrants and higher levels of insurer competition.
Insurers in India and Africa remained more cautious.

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

Global Insurance Market Index

04/22/2026

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.

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

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.

Global Insurance Market Index

Canada insurance rates

04/22/2026

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

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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IMEA Insurance Market Rates

India, Middle East, and Africa rates decline