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Report

Q3 2025 Global construction market update

Exploring the trends shaping construction insurance risks

While a plateau or gentle decline in rates had been anticipated following the 2025 reinsurance renewals for the construction sector, increased appetite among existing underwriters and new entrants resulted in greater rate reductions in most territories during the first part of the year. 

Marsh’s latest Construction Market Update provides an overview of the insurance market dynamics across key coverages relevant to construction companies around the world, highlighting the potential impacts of increased insurer appetite and capacity through the remainder of 2025.

Looking ahead, promising signs for buyers include continuing increased competition, driven by growing interest from both new and existing market participants.

Use this report to:

  • Understand the impacts of increased capacity: Discover how global construction markets have generally stabilized in terms of pricing and capacity, and explore the potential implications for terms and renewals.
  • Refine your risk management strategy: Analyze insurance market trends across appetite, capacity, coverages, limits, pricing, rating, and underwriting to enhance your risk management approach.
  • Explore regional breakdowns: Gain insights into regions projected to experience construction output growth in the coming years, the key drivers behind this growth – such as investments in renewable energy and infrastructure projects, and the variations within the construction insurance market.

Dive deeper into the global insurance market

Read the latest Global Insurance Market Index, Marsh’s proprietary measure of global commercial insurance rate change at renewal, updated quarterly.