15 According to the Marsh Q4 2022 U.S. composite casualty insurance index, pricing increased by 3% (excluding workers’ compensation) and 1% (including workers’ compensation). Casualty insurance rate increases moderated in 2022. While rates remained in positive territory, double-digit rate increases certainly waned throughout the year. U.S. composite insurance pricing change – casualty 9% 8% 8% 5% 7% 6% 7% 6% 4% 4% 3% 2% 2% 1% 1% 0% -1% 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 Q4 22 Source: Marsh Specialty and Global Placement