Digital report

IMEA Insurance Market Rates

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

Q2 2025

India, Middle East, and Africa rates decline

Insurance rates in the second quarter decreased 5% in the IMEA region, where rates for large and complex organizations are often impacted by the reinsurance market.

India, Middle East, and Africa (IMEA) second quarter 2025

IMEA property rates decline

Property insurance rates decreased 5% as demand and competition increased.

In the Middle East and Africa, decreases ranged from flat to 10%; in India, clients experienced increases of 20% to 25%.
After a spike in 2024, rates in catastrophe-exposed sectors and higher-hazard industries — including chemical, food, and waste and recycling — declined by up to 10%.
Clients with poorer loss records faced capacity constraints and less favorable rates.
Regional players and multinational reinsurers fostered competition, leading to rate declines, particularly in the Middle East and Africa.

Casualty insurance composite rate flat, underwriters scrutinize US exposures

Casualty insurance rates remained flat.

Casualty rates remained flat overall, with capacity-driven and non-complex risks seeing premiums flat or reduced by up to 5%.
Rates were stable in India, the UAE, and South Africa; Saudi Arabia experienced decreases up to 5%.
US casualty exposures significantly influenced appetite and capacity deployment in the region.
The introduction of new capacity, particularly in reinsurance, fostered competition.

Financial and professional lines rates decline, vary regionally

Financial and professional lines rates declined 7%.

Directors and officers (D&O) liability insurance rates varied by region – India remained flat, South Africa saw increases of 0% to 5%, and the Middle East (UAE and Saudi Arabia) experienced decreases of 15% to 20%.
Financial institutions (FI) in the Middle East saw rate reductions ranging from 10% to 15%, supported by increased capacity from London and Dubai; FI rates in India remained stable with reduced capacity or lower limits.
The professional indemnity (PI) market in India remained stable; South Africa and the Middle East experienced decreases of 5% to 10%.

Cyber insurance rates decline as capacity increases

Cyber insurance rates decreased 5%.

Cyber rates decreased by an average of 5%, with some clients in the Middle East seeing declines of over 15%.
- Rates in India increased 5% to 10%.
- South Africa experienced decreases up to 5%.
There was an influx of new capacity, particularly in excess and primary layers.
In the Middle East, increased capacity was driven by new entrants, greater competition among insurers, and pricing movements; in India and Africa, insurers appeared cautious.

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

Global Insurance Market Index

24/07/2025

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

07/24/2025

Insurance rates in the second quarter in the US were flat.

Skyline of London over Tower Bridge on the Thames

Global Insurance Market Index

UK insurance rates

07/24/2025

Insurance rates in the UK declined 6% in the second quarter.

Global Insurance Market Index

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IMEA Insurance Market Rates