Broker Marsh Risk has revealed that property rates declined by 9% globally in the opening quarter of 2026, with double-digit decreases recorded in major regions such as the Pacific, the United States and the United Kingdom.In its latest report on global commercial insurance rates, Marsh Risk highlighted that the downward rate movement in Q1’26 was supported by favourable reinsurance terms and a significant capacity oversupply.The broker also observed that insurers have broadened their appetite, targeting more complex industries and the middle market, where competition levels are increasing.Commenting on the report, John Donnelly, President, Global Placement, Marsh Risk, said: “While the Middle East conflict is being carefully observed for its potential impact on insurance markets, the current competitive environment is expected to persist as insurer profitability remains strong.

This is especially true in lines such as property, which is supported by favorable reinsurance terms and significant capacity.“Given broad economic uncertainty and inflationary pressures, clients have the opportunity to optimize their program structures, increase limits, or adjust retentions to improve the resilience of their programs in the year ahead.” As mentioned, property rates declined by 9% in Q1 2026 on a global basis,  Rates fell fastest in the Pacific region, which recorded a 14% decline in the quarter, while Latin America and Caribbean (LAC), India, Middle East and Asia (IMEA), the US and the UK also recorded double-digit decreases too.In the United States market, property insurance rates declined by 10%, compared to an 8% decrease in the prior quarter.

The broker explained that catastrophe-exposed clients saw rates decline 16%; while non-natural catastrophe programmes dropped 7%, driven by increased insurer capacity and competition levels.Marsh Risk also stated that some clients also used programme savings to enhance coverage, advisory services, or resilience measures, including captives and insurance-linked securities (ILS).Across Canada, property rates decreased 6% in Q1 2026.

Marsh emphasised that surplus capacity and strong insurer appetite resulted in high levels of competition across the Canadian market.Turning attention to the UK, property insurance rates decreased 10%, the same as in the prior quarter.Marsh acknowledged that ample insurer capacity and high levels of competition remained within the UK market during Q1’26, particularly for more challenging lines.

The broker also noted that underwriters focused on catastrophe exposures and site-specific vulnerabilities, while cyber exclusions remained a key point of negotiation.Across Europe propertyinsurance rates declined 8% in the opening quarter, while IMEA saw rates decrease by 10%, with regional variation.Within the IMEA region, The Middle East and Africa saw rate declines ranging from 5% to 20%, while India experienced decreases up to 45%.

Property insurance rates declined 14% in Q1 2026 for the Pacific region amid strong competition, the same as Q4 2025.Marsh Risk noted that coverage terms were generally negotiable, with clients securing increased limits, lower deductibles, and in some cases, removing mandatory endorsements.Meanwhile, in Asia, propertyinsurance rates declined 5% in Q1’26, keeping trend with the last three quarters.

While in the LAC marketplace, property insurance rates declined by 12%, the same as in the prior quarter..All of our Artemis Live insurance-linked securities (ILS), catastrophe bonds and reinsurance can be accessed online.Our can be subscribed to using the typical podcast services providers, including Apple, Google, Spotify and more.