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New Zealand Insurance Market Update

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New Zealand Insurance Market Update (August 2026)

Insurance market conditions in New Zealand remained broadly competitive through the first half of 2026, supported by strong capacity and favourable reinsurance conditions.

Our 2026 New Zealand Insurance Market Update provides an overview of local insurance market conditions, pricing trends, coverage developments and underwriting considerations to help insurance buyers navigate renewals, review their insurance programmes and shape their risk strategy for the remainder of 2026 and beyond.

The 2026 update also considers evolving global factors influencing the insurance market, including geopolitical developments and the conflict in the Middle East.  While the broader New Zealand general insurance market has seen limited impact to date, the report highlights potential implications for marine, travel, aviation, energy and cyber risks, as well as wider considerations around trade disruption and supply chains.

Competition remains strong across many insurance lines, with capacity supporting favourable pricing and coverage outcomes for well-managed risks. However, conditions vary by insurance class, risk profile, claims history and location. Inflation, rising claims costs, natural catastrophe volatility and evolving geopolitical risks continue to influence insurer appetite and underwriting decisions.

For insurance buyers, the current market provides an opportunity to review coverage, limits and deductibles, address potential gaps and consider how risk management can support future insurance outcomes. With market conditions subject to change, early engagement and quality risk information remain important when preparing for renewal.

The report covers key insurance market trends across six major areas:

Property insurance

Market capacity, pricing, natural catastrophe risk, valuations and underwriting considerations.  

Liability and specialty insurance

Trends across Directors and Officers liability, professional indemnity, crime, cyber and environmental liability.  

Motor and mobile plant insurance

Market capacity, fleet risk, claims costs and risk management considerations.  

Construction insurance

Contract works and construction professional indemnity, including pricing, capacity and natural catastrophe considerations.  

Marine cargo insurance

Pricing, capacity, coverage developments, geopolitical risks and supply chain disruption.

People risks

Group life and disability and health insurance, including claims trends, medical inflation and pricing pressures.

The update also highlights key developments shaping the New Zealand insurance market, including natural catastrophe exposure, inflation and claims costs, regulatory changes, cyber and emerging risks, and changing insurer appetite.

Download the New Zealand Insurance Market Update to access the latest insurance market intelligence, pricing trends, coverage developments and underwriting insights to help inform your insurance and risk strategy in 2026 and beyond.

FAQs

The New Zealand Insurance Market Update provides timely insights from Marsh on the insurance market outlook, pricing and capacity trends, insurer appetite and emerging market influences. The reports cover a range of insurance covers, including property, liability, professional indemnity, cyber, directors’ liability, health, life and specialist insurance.

The New Zealand insurance market can change quickly, with shifts in insurer appetite, pricing, capacity and underwriting requirements affecting the coverage and cost of your insurance programme.

Understanding these market trends can help you anticipate potential changes, prepare for renewal and make informed decisions about your insurance and risk management.

Keeping up to date with insurance market trends can help your organisation plan ahead and prepare for potential changes at renewal. Understanding shifts in pricing, capacity and insurer appetite can also help you identify where additional information, risk mitigation or a different approach to your insurance programme may be required.

The insights can help you have more informed conversations with your insurance adviser and insurers and avoid being caught unprepared by changing market conditions.

The update provides insights into current insurance pricing and capacity trends across major lines of insurance, as well as changes in insurer appetite and underwriting expectations in New Zealand. It also covers the market factors influencing insurance outcomes, including economic conditions, significant weather events, claims experience, loss trends and emerging risks. These factors can influence insurer behaviour, pricing, capacity and policy terms.

Previous reports

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New Zealand Insurance Market Update February 2026 Edition
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New Zealand insurance market update 2023: Year in review
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New Zealand Q3 & Q4 Market Update 2021

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