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UK Insurance Market Rates

The Global Insurance Market Index is our proprietary measure of commercial insurance rate changes at renewal. Below are insights into the UK insurance market.

Q1 2025

UK rates decline overall, casualty increases

Insurance rates in the UK declined 6% in the first quarter of 2025.

UK first quarter 2025

UK composite insurance rate change 

UK property

UK property insurance rates decline; insurer capacity increases

Property rates decreased 6% as competition remained strong in a dynamic insurance market.

  • Competition strengthened for high-risk trades where strong risk management practices can be demonstrated.
  • Insurers pursued growth ambitions, focusing on new business, organic growth on existing placements, and retaining positions on current accounts.
  • Discussions around cyber clauses remain a key topic among insurers.
  • Long-term agreements (LTAs) were commonly available, often with built-in reductions in year two or three.
  • Early access to markets remained a crucial advantage for clients, enabling them to strengthen their position in negotiations.

UK casualty

Casualty rates increase, driven by motor liability

Casualty insurance rates increased 1%; excluding motor liability, casualty rates decreased 5%.

  • The motor insurance market experienced an 8% rate increase.
    • Inconsistent approaches to renewals and new business were observed, with sectors like passenger transport and logistics facing regular increases, while private car and van fleets experienced significant competition.
    • Care inflation reached 25% due to provider shortages, impacting individual injury claims.
    • Car theft remained a concern.
    • Insurers emphasized the importance of maintaining accurate Motor Insurance Database (MID) records to avoid unwarranted claims exposure from disposed vehicles.
  • In general liability and employer’s liability, insurers focused on growth, creating an increasingly competitive environment, particularly for companies with minimal US exposure.
    • Insurers typically looked to include broader coverage options as a way to differentiate their offerings.
    • LTAs were commonly available.

UK financial and professional lines

Financial and professional lines rates decline

Financial and professional lines rates declined 10%.

  • Directors and officers (D&O) liability rates declined between 5% and 10%.
  • Capacity and competition remained abundant in the financial institutions (FI) market.
  • Rate reductions in the crime insurance market slowed, nearing flat levels.

Cyber insurance rates continue to decline

Cyber insurance rates decreased 8%.

  • In the first quarter, 78% of cyber clients received rate reductions as insurer competition increased.
  • 26% of clients opted to add to their limits.

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

Explore the report

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Global Insurance Market Index

Global Insurance Market Index

23/04/2025

The Global Insurance Market Index is our proprietary measure of global commercial insurance rate change at renewal — providing insights on the world's major insurance markets.
Aerial view of the Bay Bridge in San Francisco, CA

Global Insurance Market Index

US insurance rates

23/04/2025

Insurance rates in the first quarter of 2025 in the US declined by 1%.
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Global Insurance Market Index

Latin America and Caribbean insurance rates

04/23/2025

Insurance rates in the LAC region decreased 2% in the first quarter of 2025.
Berlin, Germany viewed from above the Spree River.

Global Insurance Market Index

Europe insurance rates

Insurance rates in Europe declined 1% in the first quarter of 2025.
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 8% in the first quarter of 2025.
Shanghai skyline at night

Global Insurance Market Index

Asia insurance rates

Insurance rates in Asia declined 3% in the first quarter of 2025.
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Global Insurance Market Index

Canada insurance rates

Insurance rates in Canada declined 3% in the first quarter of 2025.
Skyscrapers in Abu Dhabi, United Arab Emirates.

Global Insurance Market Index

India, Middle East, and Africa insurance rates

23/04/2025

Insurance rates in the first quarter of 2025 decreased 4% in the IMEA region.

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