CRC Group, an independent wholesale specialty insurance distributor, has released its Property REDY Index for Q2 2026, revealing that property renewal rates continued to soften at an accelerated pace.
During the first half of 2026, average renewal rates declined by between 8.8% and 13.3% month over month, a significant increase from the monthly declines of 1.5% to 5.5% recorded during the same period in 2025.
CRC Group noted that ample reinsurance capacity continues to support favourable market conditions.
Global reinsurance capital reached approximately $790 billion at mid-year, while demand remained relatively stable. Meanwhile, first-half global catastrophe losses of roughly $38 billion remained below the 10-year average, reinforcing competitive market dynamics.
Competitive pressures are extending beyond pricing to broader coverage enhancements. Buyers benefited from increased available limits, lower deductibles, and broader policy terms, with June 1 property catastrophe renewals delivering rate reductions of up to 25% for well-performing, loss-free accounts.
CRC expects current market conditions to persist, although underwriting discipline remains in place for higher-risk, catastrophe-exposed accounts.
While downward pricing pressure is expected to continue, carriers remain focused on loss-affected and catastrophe-exposed risks, with continued margin compression potentially influencing pricing discipline as the market moves toward 2027.
