8 Global insurance markets: Financial and professional lines pricing declines UK pricing: Financial and professional lines pricing 昀氀at Insurance pricing in the third quarter of 2022 in the UK increased 7%, compared to 11% in the second quarter (see Figures 6 and 7). 06| UK composite insurance pricing change Property insurance pricing increased 6% year-over-year, the same as in the UK second quarter. Global 22% • Property insurance pricing continued 20% to plateau, and was generally less 19% 18% volatile for clients. – Property insurance pricing remained competitive for low- to 15% 15% medium-hazard industries, and 14% 13% more challenging for higher 11% hazard industries or risks 11% with major loss activity and/ 9% or a challenging occupancy or 8% process, such as food production, warehousing, or waste recycling. 7% • Insurers focused on claims in昀氀ation 6% 6% trends by increasing pricing if exposure bases were not, in their 3% view, appropriately assessed. 2% 2% • As reinsurance treaty renewal season started, Hurricane Ian served underwriters in maintaining pricing discipline. 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