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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.

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Q3 2026

India, Middle East, and Africa rates decrease, led by property

Insurance rates in the third quarter decreased 14% in the IMEA region, the highest across all regions. No major losses were reported across major insurance lines.

IMEA composite insurance rate change 

IMEA property

Property rates decline across key markets

Property insurance rates decreased 15%, compared with 19% in the prior quarter.

  • Rates continued to vary significantly by market, with the steepest reductions in India and South Africa, and more moderate, although still double-digit, decreases in the United Arab Emirates (UAE) and Saudi Arabia.
  • Capacity increased across the region, with most placements oversubscribed.
  • In India ample capacity and the removal of tariffs encouraged insurer competition.
  • Political violence capacity decreased from pre-Middle East conflict levels, although there are new market entrants and pricing has moderated from the highs seen in the first half of 2026.
  • Local insurers produced high levels of pricing pressure for some global insurers.

IMEA casualty

Casualty insurance rates move lower as capacity remains stable

Casualty insurance rates decreased 5%, compared with a 3% decrease in the prior quarter.

  • Pricing for general liability varied by market, with India and the UAE recording the largest declines, Saudi Arabia seeing more moderate decreases, and South Africa remaining stable.
  • Capacity remained broadly unchanged in the Middle East. Regional insurers continued to offer attractive pricing for lower limits, while multinational insurers typically favored larger placements above US$10 million.
  • Accounts with US exposure continued to weigh heavily on regional appetite and capacity, shaping insurer participation across the market.

IMEA financial and professional lines

Financial and professional lines rates decline as capacity outstrips demand

Financial and professional lines rates declined 6%, the same as the prior two quarters.

  • Directors and officers (D&O) rates declined, with the sharpest changes in India, followed by the UAE and Saudi Arabia. South Africa saw smaller reductions or flat renewals.
  • Financial institutions saw broadly low single-digit decreases across most of the region, with London and Dubai capacity continuing to support pricing in the Middle East and South Africa. Rates in India stood out, decreasing by as much as 20%.
  • Professional indemnity rates declined broadly across the region, with the steepest reductions in India.
  • Capacity continued to outstrip demand across D&O, financial institutions, and professional indemnity, creating room for buyers to negotiate both price and terms.

Cyber market remains insured-friendly as capacity expands

Cyber insurance rates decreased 10%, marking the twelfth consecutive quarter of rate declines.

  • Overall market conditions remained favorable for buyers, with India seeing the steepest reductions, followed by the Middle East, and South Africa, which saw the smallest reductions.
  • New entrants continued to support capacity growth in the Middle East.
  • Insurers remained cautious in the wake of the Middle East conflict, although no immediate price and capacity reactions were seen.

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

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Explore the report

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Global Insurance Market Index

Global Insurance Market Index

10/21/2026

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

10/21/2026

Composite insurance rates in the US decreased in the third quarter.
Skyline of London over Tower Bridge on the Thames

Global Insurance Market Index

UK insurance rates

10/21/2026

Insurance rates in the UK declined by 8% in the third quarter.
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Global Insurance Market Index

Latin America and Caribbean insurance rates

Insurance rates in the region decreased 9% in the third quarter.
Berlin, Germany viewed from above the Spree River.

Global Insurance Market Index

Europe insurance rates

Insurance rates in Europe declined 6% in the third 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 third quarter.
Shanghai skyline at night

Global Insurance Market Index

Asia insurance rates

Insurance rates in Asia declined 6% in the third quarter.
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Global Insurance Market Index

Canada insurance rates

10/21/2026

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

Previous reports

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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