CRC Group, an independent wholesale specialty insurance distributor, has released its Property REDY Index for Q3 2026, showing that property pricing continued its downward trajectory, although the pace of rate reductions began to moderate.
CRC Group reported that average year-over-year renewal pricing declined 12.0% in July, 11.4% in August and 11.1% in September, compared with reductions of 12.8% in June and 13.3% in May.
Despite this moderation, pricing remains significantly more competitive than during the same period in 2025, when rates fell by 6.0% in July 2025, 5.2% in August, and 7.0% in September.
CRC Group noted that favourable renewal outcomes remain widespread across the property market. In Q3 2026, approximately 91% to 93% of CRC property accounts renewed at flat or reduced rates, reflecting continued market competition.
During the quarter, the percentage of accounts experiencing rate increases of 10% or more remained below 2%, further highlighting the favourable environment for challenged risks.
Abundant re/insurance capacity continues to support competitive market conditions. Carriers remain focused on retaining profitable accounts and attracting new business, creating opportunities for insureds to negotiate more favourable pricing, increased limits, reduced deductibles and broader coverage terms. Competition remains particularly strong for well-performing accounts with favourable loss histories and quality underwriting information.
Looking ahead, the property market is expected to remain favourable for buyers, although underwriting discipline will continue to influence outcomes for individual accounts.
While ample capacity should continue to support competitive pricing, the recent moderation in rate reductions suggests the pace of market softening may stabilise heading into 2027, according to CRC Group.
