18 Global insurance markets: Financial and professional lines pricing declines Asia pricing: D&O pricing continues to moderate 14| Asia composite insurance pricing change Insurance pricing in the third quarter of 2022 in Asia increased 2%, down Asia from 3% in the prior two Global 22% quarters (see Figures 14 19% 20% and 15). 18% Property insurance pricing rose 2%, the sixteenth consecutive quarter of increases, 15% 15% which peaked at 18% in the third quarter 14% 13% of 2020. 11% 11% • Clients with challenging claims experience or those requiring support 9% from facultative markets continued to 8% see above average rate increases. 6% 6% • Natural catastrophe capacity continued to drive pricing that was above the average. 3% • Global in昀氀ation remained a concern 2% 2% 2% for insurers, with continued focus on the appropriate declaration of declared values. • The political violence (PV) market showed signs of contraction, 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 with insurers carefully reviewing Source: Marsh Specialty and Global Placement their aggregate exposures and pricing adequacy.