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UK 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 UK insurance market.

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Q3 2026

UK rates decline across all major lines

Insurance rates in the UK declined by 8% in the third quarter, the same as in the prior two quarters, marking the eleventh consecutive quarter of rate declines.

UK composite insurance rate change 

UK property

UK property insurance rates decline amid a quiet natural catastrophe season

Property rates decreased 11%, unchanged from the prior quarter.

  • A quiet natural catastrophe season and the absence of major losses continued to support favorable market conditions.
  • Incumbent insurers sought to retain business and accepted significant rate reductions, as general pricing pressure persisted.
  • Capacity remained plentiful, including for more challenging industry segments, with facilities continuing to play a key role.
  • Long-term agreements were readily available, with meaningful reductions available for canceling and rewriting existing deals or entering new ones.
  • Clear, well-communicated risk management remained important to achieving favorable outcomes, alongside early market access, high-quality submissions, and timely information.
  • Underwriters continued to consider wider coverage to attract new business, and cyber exclusions were also being discussed.
  • UK claims activity saw no major risk losses, while insurer-sponsored risk bursaries became a more common feature offered to clients.

UK casualty

Casualty rates decline as capacity remains available

Casualty insurance rates declined 3% overall, with casualty excluding motor declining 5%. This was the fourth consecutive quarter of declines.

  • Capacity remained available, as newer retail casualty entrants added appetite and flexibility to the market.
  • Some insurers reviewed deployed capacity and attachment points for US-focused risks. Pricing remained under review for accounts with losses.
  • Motor outcomes varied by sector, with rates ranging from 5% increases to 5% reductions.
    • Changing mobility patterns, including ownership changes, short-term cover growth, and alternative transport, added new claims and legal considerations.
    • Repair inflation and labor costs remained elevated; electric vehicles (EVs) continued to drive higher claim severity and longer repair times.
  • Ample capacity and new market entrants continued to create room for negotiation. Strategic approaches to renewal tended to deliver the largest rate reductions, while long-term agreements continued to support pricing stability.

UK financial and professional lines

Financial and professional lines see further rate reductions

Financial and professional lines rates declined 5%, compared with a 4% drop in the previous quarter, as capacity remained available. Rates have been declining since the fourth quarter of 2022.

  • Directors and officers liability (D&O) declines slowed, with pricing largely dependent on policyholder domicile, public or private status, and industry sector.
    • Capacity remained ample for D&O, except for the most distressed risks, and recent transaction activity or activity related to going public has not yet appeared to affect appetite or pricing.
  • Financial institutions were generally able to secure rate reductions, which are expected to remain available for the foreseeable future.
    • Capacity for financial institutions remained strong, supported by new entrants and managing general agents (MGAs). Broad coverage remained available for financial institutions, with the potential impact of the Motor Financing ruling continuing to be monitored.
  • Crime pricing reductions remained available unless there were material recent losses; insurers showed increasing appetite in this class.

Cyber insurance rates decline further

Cyber insurance rates decreased 7%, compared with a 5% decrease in the prior quarter.

  • The cyber market in the UK remained broadly favorable for buyers.
  • While rate reductions persisted, the pace of declines moderated compared with prior quarters.
  • Incumbent insurers generally sought to retain client business.
  • Many insureds continued to balance price against continuity, claims expertise, and long-term insurer relationships. Strong preparation for renewals continued to deliver better outcomes.

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

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Global Insurance Market Index

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.
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Global Insurance Market Index

US insurance rates

10/21/2026

Composite insurance rates in the US decreased in the third quarter.
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Global Insurance Market Index

Latin America and Caribbean insurance rates

10/21/2026

Insurance rates in the region decreased 9% in the third quarter.
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Global Insurance Market Index

Europe insurance rates

Insurance rates in Europe declined 6% in the third quarter.
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Global Insurance Market Index

Pacific insurance rates

Insurance rates in the Pacific region declined 12% in the third quarter.
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Global Insurance Market Index

Asia insurance rates

Insurance rates in Asia declined 6% in the third quarter.
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Global Insurance Market Index

Canada insurance rates

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

Previous reports

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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