Asia commercial insurance rates declined 5%, the same as the prior quarter.
- Vietnam and Japan experienced increases, at 15% and 1% respectively, compared to -11% and 6% in the prior quarter.
- Korea and Taiwan, Republic of China (R.O.C) experienced the largest decreases, at -17% and -16%, compared to -25% and -14% in the prior quarter.
Access the full insights for the region in our Asia report.
Global commercial insurance rates declined by 4% in the fourth quarter of 2025, the sixth 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 amid high levels of insurer competition.
- Vietnam is the only market that experienced an increase in property rates at 18% due to regulatory pricing tariffs.
- Korea and Taiwan, Republic of China (R.O.C) experienced the largest decreases in property rates at -18%.
Asia casualty insurance rates declined 1% in the quarter compared to a 3% decline in the prior quarter.
- Japan is the only Asia market to record a rate increase at 7%, the same as the prior quarter.
- Korea experienced the largest decrease in rates at -17% compared to -21% in the prior quarter.
- Excess/umbrella rates were mostly flat or saw moderate changes. Meanwhile, US-exposed risks increased by 5% to 10%.
Asia financial and professional lines rates declined 10% in the quarter compared to an 8% decline in the prior quarter.
- A shift of Chinese IPOs to regional exchanges, notably in Hong Kong SAR, reduced premium opportunities and put downward pressure on D&O rates.
- Hong Kong SAR and Malaysia experienced the largest decreases in rates, at -15% and -14% respectively, compared to -5% and -18% in the prior quarter.
Asia cyber insurance rates decreased 10% in the quarter compared to a 5% decline in the prior quarter.
- Rising cyber incidents and evolving regulatory demands continued to drive strong market demand.
- Insurers have broadened product offerings to include coverage for cyber property damage, social engineering fraud, and supply chain attacks.
- Cyber rates in Thailand experienced the biggest decline at -23% followed by Indonesia, Korea, and Singapore at -13%.
Insurers updated policies for generative AI risks while underwriters intensified scrutiny of third-party cyber exposures for complex supply chains. It is an opportune time to review your risk management strategies for cyber risks. Learn how Marsh Risk’s Understand–Measure–Manage-Respond framework helps businesses in Asia defend against evolving cybersecurity risks.