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
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Global composite insurance rate change
*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.
Explore regional pricing
Global Insurance Market Index
UK insurance rates Q1 2024
04/24/2024
Insurance rates in the UK declined 2% in the first quarter of 2024.
Global Insurance Market Index
Europe insurance rates Q1 2024
Insurance rates in Europe increased 3% in the first quarter of 2024.
Global Insurance Market Index
Pacific insurance rates Q1 2024
Insurance rates in the Pacific region declined 2% in the first quarter of 2024.
