Property rate declines were generally driven by stable capacity and high levels of competition.The Middle East and Africa saw rate declines ranging from 5% to 20%; India experienced decreases up to 45%, though typically lower.Casualty insurance rates decreased 7%, compared to a 5% decline in the prior quarter.Pricing varied by region, with the largest declines generally seen in India, said Marsh.
Singapore: Insurance rates in the first quarter of 2026 decreased 10% in the India, Middle East, and Africa (IMEA) region, where rates for large and complex organizations are often impacted by the reinsurance market, according to Marsh, the largest global /reinsurance broker.
Property insurance rates decreased 10%.
Property rate declines were generally driven by stable capacity and high levels of competition. The Middle East and Africa saw rate declines ranging from 5% to 20%; India experienced decreases up to 45%, though typically lower.
Catastrophe-exposed and high-hazard sectors (chemical, food, waste, recycling) experienced declines of up to 25% in India; insureds in other regions generally saw declines of 5% to 15%.
Regional and multinational reinsurers expanded their presence across IMEA, increasing competition, particularly in the Middle East and Africa.
Major claims were notified in both the political violence (PV) and property markets due to the ongoing regional conflict and recent weather-related storms.
PV capacity shrunk from more than $1 billion to about $200 million (at the time of writing). PV pricing increased, with rates on-line in the range of 2% to 11%.
Casualty insurance rates decline
Casualty insurance rates decreased 7%, compared to a 5% decline in the prior quarter.
Pricing varied by region, with the largest declines generally seen in India.
A new civil code in the UAE removed previous legal monetary compensation caps for death or injury (formerly US$54,000 per person).
Directors and officers (D&O) liability rates decreased 30% in India; 10% to 15% in the UAE and Saudi Arabia; and ranged from stable to 5% declines in South Africa.
Financial institutions rates ranged from flat to 5% declines in the Middle East, supported by capacity from London and Dubai; rates in India declined 15% to 20%.
Professional indemnity rates ranged from stable to 5% increases in South Africa and the Middle East, while declining 10% to 15% in India.
Cyber insurance rates decline as capacity increases
Cyber insurance rates decreased 14%, compared to an 8% decline in the prior quarter.