U.S. commercial insurance rates moderate to 3.8%
WTW (NYSE:WTW) reported that U.S. commercial insurance pricing held at a 3.8% year‑over‑year increase in Q3 2025, continuing a moderation trend from 5.3% in Q1 2025 and 3.8% in Q2 2025.
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Rhea-AI Summary
WTW (NYSE:WTW) reported that U.S. commercial insurance pricing held at a 3.8% year‑over‑year increase in Q3 2025, continuing a moderation trend from 5.3% in Q1 2025 and 3.8% in Q2 2025.
The survey shows Q3 2025 pricing below 6.1% in Q3 2024, with most lines moderating: workers compensation, D&O, cyber, and commercial property saw price decreases, while excess/umbrella remained the highest-growing line (but cooled) and commercial auto kept double‑digit growth. Small and mid‑market accounts recorded more modest increases; large account pricing rose but the pace slowed.
Positive
- Aggregate pricing moderated to 3.8% YoY in Q3 2025
- Commercial auto sustained double‑digit price growth in Q3 2025
Negative
- Q3 2025 pricing down from 6.1% in Q3 2024
- Workers compensation, D&O, cyber, commercial property experienced price decreases
Details
News Market Reaction – WTW
On Dec 15, the day this news came out, WTW closed 1.17% above the previous close.
Data tracked by StockTitan Argus for the Dec 15 session.
Key Figures
- Q3 2025 rate change
- 3.8%
- U.S. commercial insurance rates vs prior-year quarter
- Q2 2025 rate change
- 3.8%
- U.S. commercial insurance rates vs prior-year quarter
- Q1 2025 rate change
- 5.3%
- U.S. commercial insurance rates vs prior-year quarter
- Q3 2024 rate change
- 6.1%
- Aggregate commercial price increase year-over-year
Historical Context
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Agreement to acquire Cushon to expand UK DC master trust presence.
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Deal to acquire Newfront for $1.3B with expected cost synergies.
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Launch of Radar Fusion cloud-native underwriting and analytics platform.
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Regular quarterly cash dividend of $0.92 per share announced.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
commercial lines insurance pricing survey technical
claims cost inflation technical
commercial property & casualty insurance (p&c) financial
excess/umbrella liability financial
directors’ and officers’ liability financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Commercial Lines Insurance Pricing Survey: Q3 2025
NEW YORK, Dec. 15, 2025 (GLOBE NEWSWIRE) -- U.S. commercial insurance rates remained at a
Price growth continued to moderate across most commercial lines with workers compensation, directors’ and officers’ liability, cyber, and commercial property insurance experiencing price decreases. Excess/umbrella liability remained the line with the highest rate of price increases, though the pace has eased compared to prior quarters. Commercial auto sustained double-digit price growth, maintaining its position as one of the fastest-rising lines. Small and mid-market accounts saw more modest increases than in previous periods, while large account pricing continued to rise, but the rate of increase slowed significantly, reflecting a broader trend of market stabilization.
"U.S. commercial insurance rates held steady in the third quarter of 2025, continuing the gradual easing we’ve seen over the past two quarters," said Yi Jing, Senior Director, Insurance Consulting and Technology (ICT), WTW. "While some coverage lines experienced modest increases, others remained flat, highlighting a period of more measured pricing across the market."
CLIPS is a retrospective look at historical changes in Commercial Property & Casualty insurance (P&C) prices and claims cost inflation. A forward-looking analysis of Commercial P&C trends, outlook, and rate predictions can be found in WTW’s Insurance Marketplace Realities series.
About WTW
At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.
Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you.
About CLIPS
CLIPS data are based on both new and renewal business figures obtained directly from carriers underwriting the business. CLIPS participants represent a cross-section of U.S. P&C insurers that includes many of the top ten commercial lines companies and the top 25 insurance groups in the U.S. This survey compared prices charged on policies written during the third quarter of 2025, with the prices charged for the same coverage during the same quarter of 2024. For this most recent survey, 41 participating insurers representing approximately
Media Contact
Lauren Ryan
Lauren.Ryan@wtwco.com
Arnelle Sullivan
Arnelle.Sullivan@wtwco.com
FAQ
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