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UK 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 UK insurance market.

Q2 2026

UK rates decline for the 10th consecutive quarter

Insurance rates in the UK declined by 8% in the second quarter, the same as in the prior quarter, with rate declines across all major product lines.

UK composite insurance rate change

UK property

UK property insurance rates decline amid ample capacity

Property rates decreased 11%, compared to a 10% decrease in the two prior quarters.

High levels of competition contributed to meaningful rate reductions. Capacity remained, including for more challenging risks.
Insurers remained generally focused on winning new business to offset the impact of reduced rates, with some incumbents accepting reductions to retain key accounts. Coverage improvements were increasingly available.
Strong risk mitigation practices remained key to more favorable outcomes, together with early, high-quality submissions and strong catastrophe planning.
Underwriters generally focused on catastrophe exposure and site-specific vulnerabilities, even as loss experience remained broadly benign. Expectations for an intensifying El Niño has increased scrutiny around US natural catastrophe readiness even in the absence of major losses.
Long-term agreements were widely offered.

UK casualty

Casualty rates decline as capacity remains

Casualty insurance rates declined 3% overall, with a 5% decrease excluding motor liability.

Insurer capacity remained ample, supported by new market entrants.
Fewer accounts saw significant rate reductions, while some loss-producing accounts saw double-digit increases. Most renewals were steady.
Underwriting remained tight for high-cost motor exposures, including electric vehicle fleets, complex electronic repairs, part shortages, and labor constraints. Repair inflation and labor costs impacted loss severity.
Some insurers reassessed deployed capacity and attachment points for US-heavy workers’ compensation risks.

UK financial and professional lines

Financial and professional lines rates decline for 15th consecutive quarter

Financial and professional lines rates declined 4%, compared to an 8% drop in the previous quarter.

Directors and officers liability (D&O) registered low single-digit decreases; financial institutions (FI) and crime rates registered mid single-digit decreases.
Capacity remained available, aided by new entrants and managing general agents (MGAs).
D&O program rates generally decreased, although most insureds saw smaller decreases. Underwriters continued to scrutinize D&O submissions involving US securities exposure, focusing on disclosures, attachment points, and aggregate exposures. The increase in initial public offerings has not, at this point, appeared to have an impact on pricing, appetite, or capacity.
Reductions remained available for crime programs without material recent losses. Policy wording varied by insurer, materially affecting pricing and protection.
Broad coverage remained available for financial institutions, with varying insurer appetite depending on sector, limits, and reinsurance.

Cyber insurance rates decline amid continued insurer competition

Cyber insurance rates decreased 5%, compared to an 8% decrease in the prior quarter.

Competition persisted, supporting broader structures and increased limits, with insurers seeking to differentiate themselves on wording and attachment terms. Insurers were keen to deploy capacity and win new business.
Buyers continued to generally secure rate reductions, although the level of decreases has moderated compared to prior quarters.
Most insurers continued to ask for demonstrable cyber resilience, governance, tested incident response, and board engagement.

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

Global Insurance Market Index

07/22/2026

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

07/22/2026

Insurance rates in the US decreased in the second quarter.

Global Insurance Market Index

Latin America and Caribbean insurance rates

07/22/2026

Insurance rates in the region decreased 9% in the second quarter.

Berlin, Germany viewed from above the Spree River.

Global Insurance Market Index

Europe insurance rates

Insurance rates in Europe declined 6% in the second 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 13% in the second quarter.

Global Insurance Market Index

Asia insurance rates

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

Global Insurance Market Index

Canada insurance rates

Insurance rates in Canada declined 7% in the second quarter.

Skyscrapers in Abu Dhabi, United Arab Emirates.

Global Insurance Market Index

India, Middle East, and Africa insurance rates

22/07/2026

Insurance rates in the second quarter decreased 16% 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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UK Insurance Market Rates