Global commercial insurance rates decline 5% in Q3 2026

Global commercial insurance rates fell by an average of 5% in the third quarter of 2026, marking the ninth consecutive quarter of declines. According to the Global Insurance Market Index released by Marsh, this trend was driven by strong financial results, favorable reinsurance terms, and expanded capacity from managing general agents.

Property insurance saw the most significant reduction, with global rates dropping by 10%. This decline was particularly notable in India, the Middle East, Asia (IMEA), the Pacific, Latin America and the Caribbean (LAC), the UK, and the United States. This softening in property lines follows a 12% decrease in the second quarter.

In contrast, global casualty rates saw a slight increase of 1%, primarily driven by litigation and large settlements in the United States. Cyber insurance rates continued a downward trend, falling 4% globally, though rates in the U.S. remained flat.

Market analysts noted that a benign U.S. hurricane season contributed to favorable underwriting results, sustaining competition. While some buyers used savings to restructure programs or increase limits, many chose to retain premium savings due to geopolitical and economic uncertainty.