Article 0 Comments Property/casualty prices are declining, while the cost of risk continues to rise – a trend that is unsustainable over time, according to John Doyle, president and chief executive officer of Marsh McLennan (MMC). Nevertheless, without significant changes in large loss activity as well as with the broader macro-economic environment, “we anticipate insurance and reinsurance market conditions seen so far this year will likely continue in 2026,” Doyle said during an analysts’ call to discuss MMC’s third quarter earnings. “We continue to see a competitive market characterized by slower growth from an uneven economy, stronger carrier ROEs and continued decreases in overall rates, particularly in property reinsurance and property [catastrophe] reinsurance,” he said. Indeed, Doyle noted that global property rates decreased by 8% during the third quarter, compared with a 7% decline in Q2 2025. Global commercial insurance rates during the third quarter decreased 4% – driven by property – which follows a 4% decline in Q2 2025, said John Doyle, president and CEO of Marsh McLennan, quoting Marsh’s Global Insurance Market Index—which skews toward large account business. Overall, rates were down in the U.S. by 1%; Canada by 3%; the UK, EMEA, Latin America and Asia were...