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Press release

Global commercial insurance rates fall 5% in Q1 2026; marking seventh consecutive quarterly decline

New York | April 22, 2026

According to the latest Global Insurance Market Index (GIMI) released today by Marsh (NYSE: MRSH), a global leader in risk, reinsurance and capital, people and investments, and management consulting, global commercial insurance rates fell, on average, by 5% in the first quarter of 2026, following a 4% decline in Q4 2025.

Q1 2026 marks the seventh consecutive quarter of rate decreases. The downward rate movement in Q1 continued to be fueled by abundant capacity and intense insurer competition across most major product lines.

All global regions experienced year-over-year composite rate decreases in Q1 2026. The Pacific, and India, Middle East, and Africa (IMEA) regions experienced the largest composite rate decreases – at 12% and 10% – while rates declined in Latin America and the Caribbean (LAC) and the UK by 8%. Rates declined in Canada by 6%, and in Europe and Asia by 5%. The overall composite rate in the US – which was flat in Q4 2025 – declined by 1% in Q1 2026.

Other findings included:

  • Property rates declined by 9% globally, repeating the Q4 2025 trend. Double-digit decreases were recorded in five regions: PAC (14%); LAC (12%); and 10% in the US, UK, and IMEA. Rate decreases were also recorded in Europe (8%), Canada (6%), and Asia (5%).
  • Casualty rates increased 3% globally, down from a 4% increase in Q4. This quarter’s increase was driven by a second consecutive increase of 9% in the US, where rate increases continue to be fuelled by persistent claims severity. Casualty rates declined in every other region in Q1, particularly for companies without US exposures.
  • Financial and professional lines rates decreased by 5% globally in the first quarter, down from a 4% decrease in Q4. Rate reductions were recorded across all regions – ranging from 8% in the UK, and 7% in Pacific and Asia, to a 2% decline in the US.
  • Cyber insurance rates declined by 5% globally – following a 7% decrease in Q4. The largest decline was in IMEA, at 14%, followed by reductions ranging from 11% in LAC to 2% in the US.

Commenting on the report, John Donnelly, President, Global Placement, Marsh Risk, said: “While the Middle East conflict is being carefully observed for its potential impact on insurance markets, the current competitive environment is expected to persist as insurer profitability remains strong. This is especially true in lines such as property, which is supported by favourable reinsurance terms and significant capacity. Given broad economic uncertainty and inflationary pressures, clients have the opportunity to optimise their programme structures, increase limits, or adjust retentions to improve the resilience of their programmes in the year ahead.”

About Marsh

Marsh (NYSE: MRSH) is a global leader in risk, reinsurance and capital, people and investments, and management consulting, advising clients in 130 countries. With annual revenue of $27 billion and more than 95,000 colleagues, Marsh helps build the confidence to thrive through the power of perspective. For more information, visit corporate.marsh.com, or follow us on LinkedIn and X.

Media contact

Matthew Longbottom

Senior Media Relations Lead, UK, Marsh and Guy Carpenter

+44 (0) 7528 527 037

  • United Kingdom

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Sally Roberts

US & Canada Media Relations Leader, Marsh & Guy Carpenter

+1 (347) 281 1454

  • United States

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