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Global commercial insurance prices rose 11% in the first quarter of 2022, marking the fifth consecutive reduction in rate increase since global pricing increases peaked at 22% in the fourth quarter of 2020.
In this first quarter, Asia experienced a 3% composite pricing increase. Malaysia and Singapore saw the biggest pricing moderations in the quarter.
The index is a proprietary measure of global commercial insurance premium pricing change at renewal, representing the world’s major insurance markets and comprising nearly 90% of Marsh’s premium.
Pricing increases were again seen across all geographies, though there was significant moderation in nearly all markets. Regionally, composite pricing increases for the first quarter of 2022 were as follows (see Figure 1):
Figure 1: Asia composite insurance pricing change by country
Figure 2: Asia property insurance pricing change by country
Figure 3: Asia casualty insurance pricing change by country
Figure 4: Asia financial and professional lines insurance pricing change by country