Specialty insurance rate softening accelerates
Key Highlights
- ➤Specialty insurance rates fell 6% net of trend in first-half 2026
- ➤Reinsurance rates declined 6% net of trend, accelerating three to four times
- ➤Property rates dropped 17% net of trend at July renewals
- ➤Casualty’s 6% increase lagged 8% claims trend, implying a 2% reduction
- ➤WTW’s survey covers approximately $300 billion in gross written premium
Expert Statements
Richard Clarkson, Global Market Leader, Global Specialty, WTW
“SIMS uniquely captures both 1 January and 1 July renewals, providing the market with granular insights.”
Richard Clarkson, Global Market Leader, Global Specialty, WTW
“Insurance rate movements in the first half of 2026 were broadly consistent with the 1 January renewals, with a decline of 4% gross of trend compared with 5%.”
Richard Clarkson, Global Market Leader, Global Specialty, WTW
“Against this backdrop, the 1 July results point to accelerating softening, with rates down 6% gross and 9% net.”
Richard Clarkson, Global Market Leader, Global Specialty, WTW
“Rate movements across most individual classes also show no slowdown.”
LONDON, Oct. 27, 2026 (GLOBE NEWSWIRE) -- Specialty insurance market rates fell sharply in the first half of 2026 and for the 1 July renewals, generally exceeding the rate reductions in 2025, according to WTW’s Specialty Insurance Marketplace Survey (SIMS). This has led to decreases of up to 17% net of claims and exposure trend as reductions.
In the first six months of 2026, both insurance and reinsurance rates declined by 4% gross of trend and 6% net of trend. Insurance softened at approximately twice the pace in 2025, while reinsurance softened three to four times faster, marking a clear acceleration in weaker rating conditions.
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