11 Global insurance markets: Financial and professional lines pricing declines Latin America and Caribbean pricing: Casualty pricing increases for second consecutive quarter Insurance pricing in the 08| Latin America composite insurance pricing change third quarter in the Latin Latin America America and Caribbean (LAC) region increased 5%, Global 22% the same as in the prior 19% 20% quarter (see Figures 8 18% and 9). 15% 15% Property insurance pricing increased 5%, 14% 13% the same as in the previous quarter and the 11% 11% sixteenth consecutive quarter of increase. 9% • Price increases continued across the region 8% when facultative capacity was required, which is becoming common, particularly for countries with catastrophe (CAT) exposure. 6% 6% • There were pockets of more challenging 5% conditions across the region, with concern 3% in Brazil that few markets would accept 2% 2% complex risks as insurers focused on year- end results. • There was limited regional capacity for strikes, riots, and civil commotion (SRCC) Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 and sabotage and terrorism (S&T) coverage, Source: Marsh Specialty and Global Placement mainly due to political uncertainty in Chile and Mexico.