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Global and Asia Insurance Market Index

Asia Insurance Rates: Q3 2025

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Asia commercial insurance rates declined 5%, the same as in the prior quarter.

  • Taiwan, Republic of China (R.O.C.), Japan, and Philippines experienced increases, at 14%, 6% and 5% respectively, compared to -7%, 3%, and 0% in the prior quarter.
  • Korea, Thailand, and Malaysia experienced the largest decreases, at -25%, -14% and -12% respectively, compared to -25%, -5% and -8% in the prior quarter. 

Access the full insights for the region in our Asia report.

Global commercial insurance rates declined by 4% in the third quarter of 2025, the fifth consecutive decrease in the composite rate.

Our quarterly index is a proprietary measure of global commercial insurance rate changes at renewal, providing insights on the world's major insurance markets. Here are a few highlights from the Asia findings: 

Asia property insurance rates declined 5% in the quarter, the same as in the prior quarter. 

  • A high level of insurer competition and available capacity enabled some clients to improve in areas including sub-limits, deductibles, and otherwise restricted coverages. 
  • Taiwan, Republic of China (R.O.C.), Japan and Philippines experienced increases in property rates of 15%, 6% and 6%, compared to -8%, 3% and 0% in the prior quarter. 
  • Korea experienced the largest decrease in property rates, at -28%, the same as in the prior quarter.

Asia casualty insurance rates declined 3% in the quarter, compared to 2% in the prior quarter.

  • Clients generally benefited from significant available capacity from multiple insurers, with active competition among global and regional insurers. 
  • Insurers increasingly focused on financial and supply chain resilience amid geopolitical tensions, as well as per- and polyfluoroalkyl substances (PFAS) risks.
  • Japan and Philippines experienced an increase in rates, at 7% and 2%, compared to 6% and 0% in the prior quarter.
  • Korea experienced the largest decrease in casualty rates at -21%. 

Asia financial and professional lines rates declined 8% in the quarter, compared to 7% in the prior quarter.

  • Increased IPO activity on regional exchanges created new opportunities for insurers, especially in D&O liability insurance.
  • Malaysia and Thailand experienced the largest decreases in rates, at -18% and -13%, compared to -13% and -5% in the prior quarter. 

Asia cyber insurance rates decreased 5% in the quarter, compared to 7% in the prior quarter.

  • Insurers updated policy wordings to address generative AI risks and intensified scrutiny of third-party cyber exposures amid complex supply chains.
  • Cyber rates in Korea and Thailand declined - 13% and -8%, compared to -13% and -28% in the prior quarter.  
  • Taiwan, Republic of China (R.O.C.) and Philippines experienced increases in rates, at 8% and 3%, compared to -8% and 3% in the prior quarter. 

Cyber claims in Asia rose nearly 50% from 2022 to 2024 according to Marsh Asia data, reflecting the growing frequency and sophistication of cyberattacks. With insurers broadening offerings, now is an opportune time to review your strategies for managing cyber risks. Learn how Marsh’s Understand–Measure–Manage-Respond framework helps businesses in Asia defend against evolving cybersecurity risks: 

Asia composite insurance rate change 

Evaluate your insurance program with a Marsh Risk Advisor today to address your protection gap. Download the report or speak to an advisor by filling the form below.

Previous reports

- Global Insurance Market Index - Asia report Q2 2025

- Global Insurance Market Index - Asia report Q1 2025

- Global Insurance Market Index - Asia report Q4 2024

- Global Insurance Market Index - Asia report Q3 2024