Specialty insurance rate softening accelerates
WTW's Specialty Insurance Marketplace Survey found specialty insurance and reinsurance rates fell 6% net of trend in H1 2026, with insurance softening at roughly twice the 2025 pace and reinsurance three to four times faster. Property led declines with rates down 17% net of trend at 1 July renewals, while casualty increases of 6% no longer cover an estimated 8% claims trend. By July 2026, about 65% of the 2017-2023 cumulative rate gains of ~50% had been eroded, and all 15 material classes posted net decreases.
Key figures
- Gwp 2025
- $50 billion
- Gwp h1 2026
- $29 billion
- Gwp survey pool 10yr
- $300 billion
- Casualty claims trend estimate
- 8%
- Cumulative rate gain 2017 to 2023
- ~50%
- Casualty rate increase july renewals
- 6%
- Classes with net rate decreases h1 2026
- 15 of 15
- Share of rate gains eroded by july 2026
- ~65%
- Insurance rate change net of trend h1 2026
- -6%
- Insurance rate change gross of trend h1 2026
- -4%
- Reinsurance rate change net of trend h1 2026
- -6%
- Property rate change net of trend july renewals
- -17%
AI analysis
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AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.