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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.

Q4 2025

India, Middle East, and Africa rates decline

Insurance rates in the fourth quarter decreased 10% in the IMEA region, where rates for large and complex organizations were often impacted by the reinsurance market.

Property rates decline, with regional variation

Property insurance rates decreased 11%.

Property rate declines were generally driven by increased capacity and competition.
The Middle East and Africa saw rate declines ranging from 5% to 15%; India experienced decreases between 15% to 25%.
Catastrophe-exposed and high-hazard sectors (chemical, food, waste, recycling) faced declines of up to 20% in India; insureds in other regions generally saw declines of 10% to 15%.
Regional and multinational reinsurers expanded their presence across IMEA, intensifying competition, particularly in the Middle East and Africa.

Casualty insurance rates decline

Casualty insurance rates decreased 5%.

Casualty rates declined 5% on average, with regional variations.
Casualty rates in India ranged from flat to decreases of up to 20%; rates in Saudi Arabia ranged from flat to decreases of up to 10%.
Rates in South Africa and the United Arab Emirates remained stable.
US exposures influenced regional appetite and capacity.

Financial and professional lines rates decline, with regional variation

Financial and professional lines rates declined 11% overall.

Directors and officers (D&O) liability rates decreased 20% to 25% in India; and 15% to 20% in the UAE and Saudi Arabia.
D&O rates were stable in South Africa.
Financial institutions rates declined 5% to 10% in the Middle East, driven by increased capacity from London and Dubai; rates in India declined 15% to 20%.
Professional indemnity rates were stable in South Africa, while declining 15% to 20% in India and 10% to 15% in the Middle East.

Cyber insurance rates decline as capacity increases

Cyber insurance rates decreased 8% on average.

The Middle East experienced declines between 5% and 10%, while India saw sharper decreases of 10% to 15%.
Rates in South Africa were flat to increases of 5%.
Middle East capacity growth was driven by new entrants and higher levels of insurer competition.
Insurers in India and Africa remained cautious.

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

Global Insurance Market Index

02/04/2026

The Global Insurance Market Index 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

02/04/2026

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

Skyline of London over Tower Bridge on the Thames

Global Insurance Market Index

UK insurance rates

02/04/2026

Insurance rates in the UK declined 7% in the fourth quarter of 2025.

Global Insurance Market Index

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IMEA Insurance Market Rates

India, Middle East, and Africa rates decline