Rate softening in the UK commercial market has hit a new record since the run started just over two years ago, according to the latest figures from Marsh.
In the first quarter of the year, rates dropped by 8% overall, with declines in all lines. It was the ninth consecutive quarter of downward movement and even faster than the 7% seen in Q4 2025.
The property sector was down the most, by 10%.
In its Global Insurance Market Index, Marsh noted there was plenty of insurer capacity for property business and high levels of competition, including for “more challenging lines”.
While the Middle East conflict is being carefully observed for its potential
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