Global and Asia Insurance Market Index

Asia Insurance Rates: Q2 2025

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Asia commercial insurance rates declined 5%, compared to 3% in the prior quarter.

Korea, Malaysia and Taiwan, Republic of China (R.O.C.) experienced the largest decreases, at -25%, -8% and -7% respectively, compared to -14%, -10% and 0% in the prior quarter.

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

Global commercial insurance rates declined by 4% in the second quarter of 2025, the fourth consecutive decrease in the composite rate following seven years of increases.

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, compared to 3% in the prior quarter.

Increased competition among insurers — driven by international markets —typically led to positive results for clients on sub-limits and deductibles.
Korea experienced the largest decrease in property rates, at -28%, compared to -13% in the prior quarter.
Taiwan, Republic of China (R.O.C.), experienced a decrease in property rates of 8% for the first time after ten consecutive quarters of increases.
In contrast, Japan continued to experience an increase in property rates of 3%, the same as in the prior quarter.

Asia casualty insurance rates declined 2% in the quarter, the same as in the prior quarter.

Clients without losses typically experienced greater rate decreases.
Korea experienced the largest decrease in casualty rates at -22%. The intense price competition among local and international insurers persisted.
Japan and Thailand experienced an increase in rates, both at 6% and 2%, compared to 7% and -7% in the prior quarter.

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

Increased capital market activity, including a rise in IPOs, created new opportunities for insurers, particularly in directors and officers (D&O) liability insurance.
China and Malaysia experienced the largest decreases in rates, both at -13%, compared to -10% and -18% in the prior quarter.

Asia cyber insurance rates decreased 7% in the quarter, compared to 8% in the prior quarter.

Many clients secured increased cyber coverage with an uptick in first-time buyers.
Third-party cyber risk remains a key focus for underwriters and companies as they assess their cyber risk and digital supply chains.
Thailand, Malaysia and Korea experienced the largest rate decreases, at -28%, -13% and -13% respectively, compared to -18%, -8% and -13% in the prior quarter.

This quarter’s findings show that implementing strong risk management strategies can lead to more favourable insurance rates and terms for businesses — a prime opportunity to close protection gaps.

Learn more about Marsh Asia’s six-step approach to ensure your insurance strategy keeps pace with your business risks:

Conduct risk engineering for physical resilience.
Prioritise professional asset valuations for accurate reinstatement costs.
Reassess Business Interruption coverage for accurate declared values.
Balance risk retention versus transfer with Risk Finance Optimisation.
Unlock access to risk capital and favourable terms with the largest placement network.
Prepare for complex insurance claims after a loss.

Asia composite insurance rate change

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