2 Global insurance markets: Financial and professional lines pricing declines Global commercial insurance pricing rose 6% in the third quarter of 2022, according to the Marsh Global Insurance Market Index. The pace of rate increase slowed for the seventh consecutive quarter; global composite increases peaked at 22% in the fourth quarter of 2020. 01| Global insurance composite pricing change The third quarter was the twentieth consecutive in 22% which composite pricing rose, continuing the longest run of increases since the inception of the index in 20% 2012. In the third quarter of 2022, composite pricing 19% 18% moderated in most regions, driven by the 昀椀rst decrease in 昀椀nancial and professional lines since the third quarter of 2017. 15% 15% Cyber insurance pricing increases again outpaced 14% other products; however, cyber insurance pricing 13% increases also moderated, to 48% in the US and 66% in the UK. 11% 11% Regionally, composite pricing increases for the third quarter were as follows (see Figure 2): 9% 8% • US: 5%. • UK: 7%. 6% 6% • Continental Europe: 6%. • Latin America and the Caribbean: 5%. • Asia: 2%. 3% • Paci昀椀c: 5%. 2% 2% 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 Source: Marsh Specialty and Global Placement *Note: All references to pricing and pricing movements in this report are averages, unless otherwise noted. For ease of reporting, we have rounded all percentages regarding pricing movements to the nearest whole number.