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WTW says North American property insurance rates fell in Q2 2026
Willis attributed the sharper declines to increased insurer competition, with shared and layered programs seeing rates drop 23.4% on average in Q2 2026.
Willis, the insurance brokerage and risk advisory business of WTW, reported in its autumn 2026 Insurance Marketplace Realities report that rates for large and complex North American property risks fell by an average of 14.5% during the second quarter of 2026.
The firm said the Q2 2026 drop compared with an 8.4% reduction during the same period in 2025, and it attributed the sharper decline to increased competition among insurers.
Willis added that shared and layered property programmes involving placements with five or more carriers recorded an average rate reduction of 23.41% in Q2 2026, compared with a 14.57% decline a year earlier.
The report also said property market conditions have continued to move away from the hard market that ran from 2018 to 2024, with pricing approaching levels last seen in 2019, and it highlighted growing relevance of technology-related exposures, including those tied to artificial intelligence and data infrastructure investments, according to Reinsurance News.