CRC Group, an independent wholesale specialty insurance distributor, has released its second quarter 2026 Property REDY Index, showing continued weakness in property renewal rates.
In the first half of 2026, the average renewal rate fell by 8.8% to 13.3% month-on-month, a significant increase from the monthly decline of 1.5% to 5.5% in the same period in 2025.
CRC Group noted that adequate reinsurance capacity continues to support favorable market conditions.
Global reinsurance capital reached approximately US$790 billion by mid-year, while demand remained relatively stable. At the same time, global disaster losses in the first half of the year were approximately US$38 billion, still lower than the 10-year average, which enhanced the vitality of market competition.
Competitive pressure extends beyond pricing to broader coverage. Buyers benefit from increased available limits, lower deductibles and broader policy terms, with a June 1 property catastrophe renewal offering up to 25% rate reductions for well-performing, loss-free accounts.
The CRC expects current market conditions to persist, although underwriting discipline on high-risk, catastrophic accounts remains in place.
While downward pressure on pricing is expected to continue, carriers remain focused on loss exposure and catastrophic risks, with continued margin compression likely to impact pricing discipline as the market moves toward 2027.
