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Marsh’s Guy Carpenter revenue dips as Florida cat rates fall
In its Q2 2026 results, Guy Carpenter reported revenue down 2% to $664 million, with June 1 Florida renewals seeing rate cuts of 15% to 20% amid excess capacity and softer pricing.
Marshs reinsurance broker business, Guy Carpenter, faced pressure from a softer reinsurance market and declining property catastrophe pricing in the second quarter of 2026, though executives said growth opportunities remain.
According to Reinsurance News, Guy Carpenter revenue fell 2% to $664 million in Q2 2026 on both a GAAP and underlying basis, and growth was flat for the first half of the year. The company pointed to persistent soft market conditions driven by abundant capacity and growing reinsurer appetite that have pushed rates lower.
Reinsurance News reported that the June 1 Florida catastrophe renewals brought rate reductions between 15% and 20%, reflecting excess supply outpacing a modest increase in demand. The property cat rate online index was down 16% at mid year, accelerating from negative 12% at the January 1 renewal, the steepest year over year decline since the index was created 25 years ago.
The business also cited the size of its property book as a factor, noting it represents 50% of Guy Carpenters global portfolio and is the largest property cat book in the market. Executives said execution remained strong, supported by record new business in the first half of 2026, double digit growth in international facultative, mid single digit growth in US casualty, and strong double digit growth in capital and advisory services tied to M&A and related structures, while cat bond market limits reached $61 billion outstanding through the first half of 2026.