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Large property rates in North America fall 14.5% in Q2 2026
Willis said large property buyers saw their steepest cuts in a decade as competition among insurers intensified, with shared and layered programs involving five or more carriers dropping 23.4% on average.
Large and complex property rates in North America fell an average of 14.5% in the second quarter of 2026, the steepest drop in a decade, according to Willis, a WTW business.
Willis also said early signs point to excess casualty rate increases nearing their peak, though auto liability and excess lines for high-hazard risks remain under pressure.
The findings come from Willis's fall 2026 Insurance Marketplace Realities report, which covers rate predictions and market conditions across more than 30 commercial lines in North America.
Willis attributed the larger property cut to intensifying competition among insurers, and said rates for shared and layered programs involving five or more carriers fell 23.41% on average, compared with 14.57% in the second quarter of 2025.