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Global Insurance Market Index

Pacific pricing Q1 2023

Insurance pricing in the Pacific region increased 7% in the first quarter, compared to 5% in the prior quarter.
January 10, 2019. Sydney, Australia. Landscape aerial view of Sydney Opera house near Sydney business center around the harbour.

Pacific Insurance Markets: Property, liability and cyber insurance pricing continue to rise, while financial and professional lines pricing remain flat. 

Average insurance pricing in the Pacific region increased 7% in the first quarter, compared to 5% in the prior quarter. Globally, the average pricing increase was 4% in the first quarter, the twenty-second consecutive quarter of global price increases shown by the Marsh Global Insurance Market Index*.  

Across the various regions, composite pricing increases for the first quarter were as follows:

  • Pacific: 7%
  • US: 4%
  • UK: 3%
  • Europe: 5%
  • Latin America and the Caribbean: 8%
  • Asia: 1%

Globally, pricing for the four major insurance lines were:

  • Property insurance: +10%
  • Casualty insurance: +3%
  • Financial and professional lines insurance: -5%
  • Cyber insurance: +11%.

We invite you to read the full Global Insurance Market Index First Quarter 2023. If you would like more information about pricing or other risk and insurance issues, please reach out to your Marsh representative.

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

Constant bar chart represents global insurance composite pricing change.

For more information on this region

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