Global Insurance Market Index

Moderation in pricing increases continues

Global commercial insurance prices rose by 9% in the second quarter of 2022, according to the Marsh Global Insurance Market Index. The pace of rate increases slowed for the sixth consecutive quarter; global composite increases peaked at 22% in the fourth quarter of 2020.

The second quarter was the nineteenth consecutive in which composite pricing rose, continuing the longest run of increases since the inception of the index in 2012.

In the second quarter of 2022, a slower pace of increase in financial and professional lines contributed to a moderation of pricing in most geographies.

Cyber insurance pricing continued to rise significantly, although the pace of increase slowed in the quarter, to 79% in the US and 68% in the UK, compared to 110% and 102%, respectively, in the prior quarter.

The UK experienced the steepest decline in composite pricing increases, to 11% this quarter from 20% in the first quarter.