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Digital report

Europe Insurance Market Rates

The Global Insurance Market Index is our proprietary measure of commercial insurance rate changes at renewal. Below are insights into the European insurance market. 

Q1 2025

European insurance rates decline

Insurance rates in Europe declined 1% in the first quarter of 2025.

Europe first quarter 2025

Europe composite insurance rate change 

Europe property

Property rates decline, driven by insurer competition

Property insurance rates declined 1% amid greater insurer competition and ample capacity.

  • Larger organizations generally experienced more favorable pricing compared to the middle market, despite increased appetite from insurers for middle market companies.
  • Cyber clauses remained a key discussion point with underwriters.
  • Ongoing economic and political pressures in major European countries negatively affected certain industries, leading to decreased business interruption (BI) values, particularly in the automotive sector.
  • Long-term agreements (LTAs) were commonly available in most European markets as insurers prioritized retention and growth.

Europe casualty

Casualty rates increase, US exposures remain a key factor

Casualty insurance rates increased 2%.

  • Increases were driven by general liability clients with US exposure and shifts in workers' compensation/employers' liability in larger markets like Belgium and Italy.
  • Most European organizations without US exposure renewed at flat rates due to increased competition and insurer growth targets.
  • Coverage terms remained generally stable, though some exclusionary wording for biometric data was being introduced.

Europe financial and professional lines

Financial and professional rates decline, particularly in excess layers

Financial and professional lines rates decreased 6%, with more significant reductions in excess layers compared to primary layers.

  • Capacity in financial and professional lines exceeded demand, with capacity increasing from new entrants and incumbents alike.
  • Approximately 80% of directors and officers (D&O) renewals benefited from rate decreases, with many large programs renewed under LTAs that included pre-agreed rate decreases.
  • Crime insurance rates declined due to increased competition.
  • The professional indemnity market remained fragmented, with overall rate decreases generally less than in D&O, and some small increases noted.
  • Opportunities existed for renegotiating policy wording and innovating coverage, particularly in D&O and environmental, social, and governance (ESG) exposures.

Cyber insurance rates decrease on insurer competition

Cyber insurance rates decreased 10%.

  • The middle market has become significantly more competitive due to increased capacity.
  • Insurers have set high growth targets, and capacity per layer continued to increase.
  • Clients trended toward purchasing higher limits as they benefitted from favorable market conditions.
  • Restrictions often were eliminated, and insurers broadened coverage with additional industry-specific extensions and innovative solutions.
  • New regulations, including the NIS2 Directive and the EU Digital Operational Resilience Act (DORA), are coming into effect, with the EU AI Act legislation progressing towards a 2026 effective date. Underwriters are focusing on vendor management and data collection practices.

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

Regional analysis

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Global Insurance Market Index

Global Insurance Market Index

23/04/2025

The Global Insurance Market Index is our proprietary measure of global commercial insurance rate change at renewal — providing insights on the world's major insurance markets.
Aerial view of the Bay Bridge in San Francisco, CA

Global Insurance Market Index

US insurance rates

04/23/2025

Insurance rates in the first quarter of 2025 in the US declined by 1%.
Skyline of London over Tower Bridge on the Thames

Global Insurance Market Index

UK insurance rates

04/23/2025

Insurance rates in the UK declined 6% in the first quarter of 2025.
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Global Insurance Market Index

Latin America and Caribbean insurance rates

Insurance rates in the LAC region decreased 2% in the first quarter of 2025.
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 8% in the first quarter of 2025.
Shanghai skyline at night

Global Insurance Market Index

Asia insurance rates

Insurance rates in Asia declined 3% in the first quarter of 2025.
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Global Insurance Market Index

Canada insurance rates

Insurance rates in Canada declined 3% in the first quarter of 2025.
Skyscrapers in Abu Dhabi, United Arab Emirates.

Global Insurance Market Index

India, Middle East, and Africa insurance rates

04/23/2025

Insurance rates in the first quarter of 2025 decreased 4% in the IMEA region.

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