Composite insurance rates in the third quarter of this year decreased by 5% in the India, Middle East, and Africa (IMEA) region, at the same pace as in 2Q2025, according to Marsh's "Global Insurance Market Index" for 3Q2025. Rates in IMEA for large and complex organisations are often impacted by the reinsurance market.
Property rates decline, with regional variation
Property insurance rates decreased by 5%.
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Property rate declines were driven by capacity, high levels of competition, and regulatory changes.
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Middle East and Africa experienced 5% to 10% decreases; India experienced a 30% increase due to regulatory pricing tariffs.
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Catastrophe-exposed and high-hazard sectors (chemical, food, waste, recycling) experienced declines up to 15%; insureds with loss records viewed unfavourably by insurers faced capacity limits and higher rates.
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Regional and multinational reinsurers expanded across IMEA, intensifying competition, especially in the Middle East and Africa.
Casualty insurance rates flat
Casualty insurance rates were generally flat.
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Casualty rates remained flat overall; capacity-driven and non-complex risks generally saw rates flat to 10% declines.
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Rates were stable in India and South Africa.
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Rates in Saudi Arabia and the UAE were flat to 10% decreases.
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US market exposure heavily influenced regional insurer appetite and capacity.
Financial and professional lines rates vary regionally
Financial and professional lines rates declined by 4%.
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Directors and officers liability (D&O) rates were generally flat in India and South Africa, and decreased 10% to 15% in the UAE and Saudi Arabia.
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Financial-institution rates declined 5% to 10% in the Middle East, driven by increased capacity from London and Dubai; rates in India remained stable amid reduced capacity or lower limits.
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Professional indemnity rates were stable in India and South Africa, and decreased by up to 5% in the Middle East.
Cyber insurance rates decline as capacity increases
Cyber insurance rates decreased by 6%.
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The Middle East experienced declines in the 10% to 15% range, while India and South Africa remained stable.
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Middle East capacity growth was driven by new entrants and greater insurer competition.
Global
The Global Insurance Market Index is Marsh’s proprietary measure of global commercial insurance rate change at renewal. The rates reflect the segment mix of Marsh’s client portfolio. Global composite insurance rate changes by region in 3Q2025 were as follows:
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|
Market
|
3Q2025 change
|
3Q2025 change
|
3Q2025 change
|
|
IMEA
|
-5%
|
-5%
|
-4%
|
|
Asia
|
-5%
|
-5%
|
-3%
|
|
Pacific
|
-11%
|
-11%
|
-8%
|
|
US
|
-1%
|
0%
|
-1%
|
|
UK
|
-6%
|
-6%
|
-6%
|
|
Canada
|
-3%
|
-4%
|
-3%
|
|
Europe
|
-4%
|
-4%
|
-1%
|
|
Latin America
|
-6%
|
-5%
|
-2%
|
|
Source: Marsh Global Insurance Market Index 3Q2025
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