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Digital report

Global Insurance Market Index

The Global Insurance Market Index is our proprietary measure of global commercial insurance rate change at renewal — providing insights on the world's major insurance markets.


Global commercial insurance prices rose by 4% in the first quarter of 2023.


The pace of rate increases slowed for the eighth consecutive quarter; global composite increases peaked at 22% in the fourth quarter of 2020.

Q1 2024

Global insurance markets: Rates continue to moderate

In the first quarter of 2024, global commercial insurance rates rose 1%, compared to a 2% increase in the prior quarter, according to the Marsh Global Insurance Market Index. In most global regions, the composite rate declined, continuing a three-year trend of moderation in the pace of rate increases.

Global Insurance Market Index first quarter 2024

Global composite insurance rate change

Key highlights

Regionally, composite pricing increases for the fourth quarter were as follows:


United States


United Kingdom


Continental Europe


Latin America and the Caribbean





*Note: All references to rate and rate movements in this report are averages, unless otherwise noted. For ease of reporting, we have rounded all percentages regarding rate movements to the nearest whole number.”

Global composite insurance rate change – by region

Global product line trends, Q1 2024:

  • Property insurance rates increased 3%, with the highest increases in the US and reductions in Asia and in the India, Middle East, and Africa region.
  • Casualty lines rates increased 3%; the same as in the prior quarter. Globally, insurers remained concerned with continuing large jury awards in US courts.
  • Financial and professional lines rates decreased 7%, compared to 6% in the prior quarter as every region experienced a decrease. US exposures — such as US listed companies for directors and officers (D&O) coverage — were again a focus of insurers.
  • Cyber rates continued to decline, falling 6% globally and with decreases in every region. Insurers continued to focus on cybersecurity controls, typically looking for year-over-year improvements. 

Key highlights

Globally, pricing for the four major product lines were:


Property insurance


Casualty insurance


Financial and professional lines insurance


Cyber insurance

This document and any recommendations, analysis, or advice provided by Marsh (collectively, the ‘Marsh Analysis’) are not intended to be taken as advice regarding any individual situation and should not be relied upon as such. This document contains proprietary, confidential information of Marsh and may not be shared with any third party, including other insurance producers, without Marsh’s prior written consent. 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 the Marsh Analysis could be materially affected if any underlying assumptions, conditions, information, or factors are inaccurate or incomplete or should change. The information contained herein is based on sources we believe reliable, but we make no representation or warranty as to its accuracy. Except as may be set forth in an agreement between you and Marsh, Marsh shall have no obligation to update the Marsh Analysis and shall have no liability to you or any other party with regard to the Marsh Analysis or to any services provided by a third party to you or Marsh. Marsh makes no representation or warranty concerning the application of policy wordings or the financial condition or solvency of insurers or re-insurers. Marsh makes no assurances regarding the availability, cost, or terms of insurance coverage. LCPA 24/187