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Global Insurance Market Index

The Global Insurance Market Index (GIMI) is our proprietary measure of global commercial insurance rate change at renewal — providing insights into the world's major insurance markets.

GIMI Q2 2026

Global insurance rates declined 6% in the second quarter, marking the eighth consecutive quarter of reductions and extending favorable conditions for buyers across most regions and major product lines. Property rates declined by 12% while casualty rates increased 2%, driven largely by continued challenges in the US.

Positive insurer financial performance, a surplus of capital, lower reinsurance costs, and higher investment returns have produced greater levels of competition and contributed to lower rates.

In many markets, in addition to competing based on price, insurers were seeking to differentiate themselves through broader coverage, expanded policy terms, and lower deductibles.

While market conditions remained broadly favorable, outcomes still varied by risk. Industry sector, geography, and catastrophe exposure continued to influence pricing and insurer appetite.

The property market saw the sharpest global rate declines — 12% — in the second quarter, with available capacity and high levels of competition giving buyers greater scope to revisit both cost and program structure. Property is often the largest single premium class for most corporate entities.

Financial and professional lines (FINPRO) and cyber rates also continued to see declines globally, but the pace of reductions has moderated, moving closer to more stable pricing levels. The US was the only region to record a modest increase in FINPRO rates.

Casualty was the only major product line to record a global rate increase. While pricing outside the US declined across all regions, significant increases persisted in the US, driven by claims severity and ongoing litigation pressures. While there are early signs that the pace of increase may be slowing, the market remains challenging in the US.

While global economic uncertainties have led many buyers to retain premium savings, many organizations continue to invest in alternative risk strategies, including captives.

Absent a severe northern hemisphere storm season or an unexpected string of major natural catastrophes, current market conditions are expected to persist. This is likely to provide insureds with additional opportunities to achieve not only top-line cost reductions, but also to improve coverage and refine program design, which may better position them for future market changes.

- John Donnelly, President, Global Placement

Q2 2026

Global insurance markets: Capacity, favorable reinsurance conditions contribute to composite rate declines

Global commercial insurance rates declined by 6% in the second quarter of 2026, compared to a 5% decline in the prior quarter, amid available capacity and favorable reinsurance conditions, according to Marsh’s Global Insurance Market Index (GIMI). This was the eighth consecutive quarter of global composite rate decreases.

Rate declines were observed across all major lines except casualty, driven by conditions in the US, where loss severity and litigation pressure remained elevated.

In addition to rate decreases, broader coverage, higher limits, and reduced retentions were often available. Levels of underwriting scrutiny tended to ease, although focus remained on catastrophe, casualty severity, and systemic risks. Risk differentiation continued to increase, with underwriting outcomes increasingly driven by exposure quality and risk management.

Many clients used favorable market conditions to adjust program structures, increase limits, and enhance coverage. Those with well-performing risks continued to achieve the strongest renewal outcomes.

Global Insurance Market Index second quarter 2026

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, Q2 2026:

Property rates declined by 12%, compared to 9% in the prior two quarters, amid available capacity following favorable reinsurance conditions. Catastrophe exposure remained the primary focus for underwriters, with risk quality and exposure management driving outcomes.
Casualty rates increased 2%. All regions saw rate decreases except for the US, where casualty rates increased by 7%. US-exposed risks continued to face heightened underwriting scrutiny and pricing pressure across multinational programs. While still available, capacity was increasingly selective, with a strong focus on risk quality and program structure.
Financial and professional lines rates decreased 3%, compared to a 5% decrease in the prior quarter. Market conditions continued to stabilize following a period of rate reductions, and underwriting became more selective.
Cyber insurance rates declined by 4%, the twelfth consecutive quarter of declines, supported by stable capacity and continuing high levels of insurer competition.

Our rates reflect the segment mix of Marsh’s client portfolio.

Aerial view of the Bay Bridge in San Francisco, CA

Global Insurance Market Index

US insurance rates

07/22/2026

Insurance rates in the US decreased in the second quarter.

Skyline of London over Tower Bridge on the Thames

Global Insurance Market Index

UK insurance rates

07/22/2026

Insurance rates in the UK declined by 8% in the second quarter.

Global Insurance Market Index

Latin America and Caribbean insurance rates

07/22/2026

Insurance rates in the region decreased 9% in the second quarter.

Berlin, Germany viewed from above the Spree River.

Global Insurance Market Index

Europe insurance rates

Insurance rates in Europe declined 6% in the second quarter.

Beautiful aerial view of the Sydney Opera house by the bay in Australia. Panoramic view.

Global Insurance Market Index

Pacific insurance rates

Insurance rates in the Pacific region declined 13% in the second quarter.

Global Insurance Market Index

Asia insurance rates

Insurance rates in Asia declined 5% in the second quarter.

Canada insurance rates

Insurance rates in Canada declined 7% in the second quarter.

Skyscrapers in Abu Dhabi, United Arab Emirates.

India, Middle East, and Africa insurance rates

22/07/2026

Insurance rates in the second quarter decreased 16% in the IMEA region.

This publication is not intended to be taken as advice regarding any individual situation and should not be relied upon as such. The information contained herein is based on sources we believe reliable, but we make no representation or warranty as to its accuracy. Marsh shall have no obligation to update this publication and shall have no liability to you or any other party arising out of this publication or any matter contained herein. Any statements concerning actuarial, tax, accounting, or legal matters are based solely on our experience as insurance brokers and risk consultants and are not to be relied upon as actuarial, accounting, tax, or legal advice, for which you should consult your own professional advisors. Any modelling, analytics, or projections are subject to inherent uncertainty, and any analysis could be materially affected if any underlying assumptions, conditions, information, or factors are inaccurate or incomplete or should change.

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Global Insurance Market Index