Global insurance rates declined 4% in the third quarter, the fifth consecutive quarter of declines in Marsh’s Global Insurance Market Index. Rate decreases were experienced in all regions and most product lines. Growing competition among insurers, coupled with favorable reinsurance pricing, were the primary drivers for the rate decline along with increased market capacity.

According to the report, all global regions experienced year-over-year composite rate decreases in Q3 2025. The Pacific (at 11%), Latin America and the Caribbean (LAC) (6%), and UK (6%) regions experienced the largest composite rate decreases. Rates declined in Asia and India, Middle East, and Africa (IMEA) by 5% each; in Europe by 4%; and in Canada by 3%. The overall composite rate in the US – which remained flat in Q2 2025 – declined by 1%. Rates for property, cyber, and financial and professional insurance declined in every region.

It is noted that Q3 marks the fifth consecutive global quarterly decrease following seven years of quarterly increases and is a continuation of the moderating rate trend first recorded in Q1 2021.

Other findings of the report included:
 

• Casualty rates increased 3% globally – down from 4% in Q2 – which was driven by an 8% increase in the US due largely to the frequency and severity of casualty claims, many of which are characterized by large (so-called “nuclear”) jury awards.
• Property rates declined by 8% globally, following a 7% decline in Q2. The Pacific (14%) and US and LAC (9%) regions experienced the largest decreases, while all other regions declined between 3% and 7%.
• Financial and professional lines rate decreases continued, at 5% globally in the third quarter compared to a 4% decrease in Q2 2025. Rates declined in every region, ranging from 10% in Pacific to 2% in the US.  
• Cyber insurance rates decreased by 6% globally, with declines seen in every region, including double-digit decreases in Europe (12%); LAC and the UK (11%); and Pacific (10%).

“With the exception of US casualty, clients are benefiting not only from lower rates but also from opportunities to negotiate improved terms and broader coverage. These rate trends remain consistent in a market characterized by ample capacity. Barring unforeseen changes in conditions, we expect these trends to continue and look forward to helping clients to take advantage of the competitive insurance market”, commented John Donnelly, President, Global Placement, Marsh.
 

The full report can be found here.