Marsh’s Q2 2026 Global Insurance Market Index

NEW YORK, July 23, 2026 ­─­ According to the latest Global Insurance Market Index (GIMI) released today by Marsh (NYSE: MRSH), a global leader in risk, reinsurance and capital, people and investments, and management consulting, global commercial insurance rates fell, on average, by 6% in the second quarter of 2026, following a 5% decline in Q1 2026. Property rates declined by 12% while casualty rates increased 2%, driven largely by continued challenges in the US.

Q2 2026 marks the eighth consecutive quarter of rate decreases, which continue to be fueled by abundant capacity and strong insurer competition across all major product lines. Strong insurer profitability, a surplus of capital, lower reinsurance costs, and higher investment returns are intensifying competition and contributing to lower rates.

All global regions experienced year-over-year composite rate decreases in Q2 2026. India, the Middle East and Africa (IMEA) experienced the largest composite rate decrease across all regions, at 16%, the Pacific and Latin America and Caribbean (LAC) regions declined by 13% and 9% respectively. In the UK rates declined by 8%, followed by Canada at 7%, Europe by 6%, and Asia by 5%. The overall composite rate in the US - which declined by 1% in Q1 2026 - fell by 2% in Q2 2026.

Commenting on the report, John Donnelly, President, Global Placement, Marsh Risk, said: "In many markets, in addition to competing based on price, insurers are seeking to differentiate themselves through broader coverage, expanded policy terms, and lower deductibles. While economic uncertainty has led many buyers to retain premium savings, many organizations are also continuing to invest in alternative risk strategies, including captives."

Other findings included:

• Property rates declined by 12% globally, following 9% decreases in Q1 2026 and Q4 2025. Double-digit decreases were recorded in five regions: IMEA (19%); Pacific (15%); LAC (14%); the US (13%); and the UK (11%). Rate decreases were also recorded in Europe (9%), Canada (8%), and Asia (5%).
• Casualty rates increased 2% globally, down from a 3% increase in Q1. All regions experienced rate decreases this quarter except the US, where casualty rates increased by 7% (9% in Q1). US-exposed risks continued to face heightened underwriting scrutiny and pricing pressure; 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 prolonged rate reductions, and underwriting became more selective. Rate reductions were recorded across all regions except the US, where rates increased by 1%, compared to a 2% decrease in the previous quarter.
• Cyber insurance rates declined by 4% globally - the twelfth consecutive quarter of declines - following a 5% decrease in Q1. The largest decline was in IMEA, at 14%, followed by reductions ranging from 10% in LAC to 2% in the US.

Mr. Donnelly added: "Current market conditions are likely to persist absent a severe northern hemisphere storm season or string of major natural catastrophes. This is likely to create additional opportunities for clients to improve coverage and refine program design, that may better position them for future market changes."

About Marsh

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