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Latin America and Caribbean Insurance Market Rates

The Global Insurance Market Index (GIMI) is our proprietary measure of commercial insurance rate changes at renewal. Below are insights into the Latin America and Caribbean (LAC) insurance market.

Q3 2026

Latin America and Caribbean rates decrease across all major lines

Insurance rates in the region decreased 9% in the third quarter, the same as the prior quarter, marking the seventh straight quarter of rate decreases.

Latin America and Caribbean composite insurance rate change

Latin America and Caribbean property

Property insurance rates decline as capacity expands

Property insurance rates declined 13% in the third quarter, with the steepest reductions in Chile and Brazil and more moderate reductions across several other markets.

Local and facultative capacity expanded materially across the region, supported by favorable treaty renewals. Solid insurer results and lower reinsurance costs continued to drive rate reductions and flexibility in terms and conditions.
Underwriting remained broadly flexible, with insurers offering expanded sub-limits, lower deductibles, broader coverage terms, and, in the Southern Cone, multi-year agreements.
Colombia remained the key regional exception, where earthquake-affected accounts saw rate increases or flat renewals with higher deductibles and swing clauses. Underwriting focus in Colombia’s earthquake-affected zones has increased materially, with mandatory reviews of insured values and rate adjustments even for accounts with no reported losses.
While loss activity remained broadly low across the region, supporting insurer appetite, Colombia’s August earthquake triggered a significant claims surge and reserve activity.

Latin America and Caribbean casualty

Casualty rates decrease amid available facultative capacity

Casualty insurance rates declined 2%, marking the third consecutive quarter of rate declines.

Ample international facultative capacity continued to sustain pricing pressure across the region. Underwriting remained flexible, with insurers adapting terms and limits to reflect insured-specific operating exposures.
Accounts with no record of losses generally achieved the deepest reductions, while accounts with a history of losses tended to see smaller decreases or flat outcomes.
Loss activity remained low across the region, with medical malpractice in Colombia the only notable exception.

Latin America and Caribbean financial and professional lines

Financial and professional lines rates decline amid buyer-friendly conditions

Financial and professional lines rates declined 5%, the same as the prior quarter.

Larger and more complex accounts continued to see the deepest reductions, with directors and officers liability (D&O) programs producing the most significant rate declines. Errors and omissions (E&O) rates remained broadly stable.
Capacity remained available across the region, supported by managing general agents (MGAs), particularly in Brazil, as well as portfolio solutions from both reinsurance and direct insurers.
Insurers continued to offer higher capacity to offset lower pricing, and availability remained above client demand, especially in D&O.
Crime underwriting became more demanding around client controls.
Legal changes, including the new penal code in the Dominican Republic, increased perceived liability exposure and added pressure to D&O and professional indemnity coverages.

Cyber rates move lower on strong capacity

Cyber insurance rates declined 11%, following a 10% decline in the prior quarter.

Capacity continued to expand, supported by new insurers in key markets and increased appetite from both regional players and the London market. Facultative reinsurers continued to deploy capacity across the region.
Insurers generally offered broader and more innovative coverage options than in prior years, while current pricing conditions created an opportunity to increase limits, strengthen policy language, and reduce retentions.
Insureds with strong cybersecurity controls and governance were best positioned to secure favorable outcomes, while weaker risk management practices or limited underwriting data generally saw less favorable results. Opportunities to improve program structure, secure higher limits, tighten terms, and enhance technical coverage at attractive pricing remain.

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

Global Insurance Market Index

10/21/2026

The Global Insurance Market Index (GIMI) 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

10/21/2026

Composite insurance rates in the US decreased in the third quarter.

Skyline of London over Tower Bridge on the Thames

Global Insurance Market Index

UK insurance rates

10/21/2026

Insurance rates in the UK declined by 8% in the third quarter.

Berlin, Germany viewed from above the Spree River.

Global Insurance Market Index

Europe insurance rates

Insurance rates in Europe declined 6% in the third quarter.

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 12% in the third quarter.

Global Insurance Market Index

Asia insurance rates

Insurance rates in Asia declined 6% in the third quarter.

Global Insurance Market Index

Canada insurance rates

Insurance rates in Canada declined 6% in the third quarter.

Skyscrapers in Abu Dhabi, United Arab Emirates.

Global Insurance Market Index

India, Middle East, and Africa insurance rates

21/10/2026

Insurance rates in the third quarter decreased 14% in the IMEA region.

This publication is not intended to be taken as advice regarding any individual situation and should not be relied upon as such. The information contained herein is based on sources we believe reliable, but we make no representation or warranty as to its accuracy. Marsh shall have no obligation to update this publication and shall have no liability to you or any other party arising out of this publication or any matter contained herein. Any statements concerning actuarial, tax, accounting, or legal matters are based solely on our experience as insurance brokers and risk consultants and are not to be relied upon as actuarial, accounting, tax, or legal advice, for which you should consult your own professional advisors. Any modelling, analytics, or projections are subject to inherent uncertainty, and any analysis could be materially affected if any underlying assumptions, conditions, information, or factors are inaccurate or incomplete or should change.

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Latin America and Caribbean Insurance Market Rates

Latin America and Caribbean rates decrease across all major lines