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Commercial property rates fell 14.5% in Q2 2026, Willis says

WTW also reported that catastrophe losses in the first half of 2026 totaled $42 billion, the lowest since 2020.

Reported · Written up by our desk · Property Insurance

Commercial property insurance rates kept softening in the second quarter of 2026, with Willis, a WTW business, reporting a 14.5% decline for large and complex property programs using its portfolio.

For comparison, rates fell 8.4% in the same quarter a year earlier. Shared layer programs involving five or more carriers saw reductions of about 23.4% in Q2 2026, according to the broker’s fall 2026 Insurance Marketplace Realities report.

Willis also pointed to softening treaty reinsurance renewals, indicating abundant primary capacity. In addition, catastrophe losses for the first half of 2026 were $42 billion, the lowest total since 2020, while cyber rates were holding in a range of roughly a 5.0% decrease to a 5.0% increase.

Insurance Journal reports Willis said market conditions are favoring buyers despite rising risk, and advised clients to reinvest insurance savings into higher limits, while highlighting ransomware as a continuing driver of losses and artificial intelligence as a factor increasing cyber risk.

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