Report

Global Insurance Market Index

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

4%

Global commercial insurance prices rose by 4% in the fourth quarter of 2022.

22%

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

Commercial insurance pricing increases continue to moderate

Global commercial insurance pricing rose 4% in the fourth quarter of 2022, compared to 6% in the prior quarter, according to the Marsh Global Insurance Market Index. The overall pace of pricing increases slowed for the eighth consecutive quarter; increases peaked at 22% in the fourth quarter of 2020.

The fourth quarter was the twenty-first consecutive in which composite pricing rose, continuing the longest run of increases since the inception of the index in 2012. The quarter’s pricing moderation was driven largely by a 6% decrease in financial and professional lines and the continued moderation in cyber pricing.

Constant bar chart represents Global Insurance Composite Pricing Change.

Key highlights

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

3%

United States

4%

United Kingdom

6%

Continental Europe

7%

Latin America and the Caribbean

2%

Asia

5%

Pacific

Q3 2022 Global Insurance Market Index

Global Insurance Market Index – 2022 Q3

GIMI Q3 2022

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 22/030