13 Global insurance markets: Financial and professional lines pricing declines Continental Europe pricing: Cyber insurance shows signs of stabilizing Insurance pricing in the third quarter of 2022 in Continental Europe (CE) increased 6%, the same rate of increase as in the prior two quarters (see Figures 10 and 11). 10| Continental Europe composite insurance pricing change Property insurance pricing in CE rose 5%, compared to 6% in the second quarter. Continental Europe 22% • Insurer appetite increased as the overall 19% 20% rating environment improved. Global 18% • There was increased interest from insurers to o昀昀er long-term agreements. 15% 15% • Conditions continued to depend on loss 14% 13% experience and risk quality. 11% 11% – Speci昀椀c industries and risks found it more challenging to 昀椀nd 9% capacity due to more restrictive 8% underwriting guidelines. • Strict underwriting controls continued 6% 6% 6% and insurers remained disciplined with respect to capacity deployment and aggregation, especially for contingent 3% business interruption extensions. 2% 2% • Territorial exclusions continued for Ukraine, Belarus, and Russia. 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