Aon Releases Q3 2025 Global Insurance Market Insights Report

Aon has published its Q3 2025: Global Insurance Market Insights Report, noting another quarter of buyer-friendly conditions driven by abundant capacity and strong competition, especially in property, cyber, and directors and officers (D&O). According to Aon, insurers continued to differentiate sharply between well-managed and more challenging risks. 

The report highlights that many organizations supplemented traditional insurance with captive insurance, structured solutions, and parametric products to strengthen programs. Per Aon, these tools are increasingly important as long-term loss severity trends—especially in property, cyber, and US casualty—remain elevated. 

Competition was strong in Q3, with new entrants and easing reinsurance conditions contributing to better pricing and broader coverage for preferred risks. According to the report, Hurricane Melissa affected Caribbean conditions but is not expected to shift global pricing. 

Per Aon, double-digit property decreases were common, cyber remained soft, and D&O continued to see reductions with early signs of stabilization. US casualty remained challenging due to social inflation and rising claim costs. 

Motor insurance continued to see upward pressure tied to repair costs for higher-tech vehicles. According to the report, US auto and liability exposures remain the most difficult casualty segments. 

Aon characterized current property conditions as a "pricing correction" driven by recent insurer profitability rather than improved fundamentals. According to the report, insurers remain focused on capital discipline and are cautious about further rate reductions. 

Looking ahead, Aon cited four major trends—trade, technology, weather, and workforce—that are reshaping risk. Per the report, organizations will need scenario-driven strategies that integrate traditional and alternative solutions. 

Insurance Market Overview  

Pricing softened broadly across regions, with the steepest reductions in property, cyber, and D&O. According to Aon, double-digit property cuts were widespread. 

Capacity remained abundant for property, cyber, and D&O, while constraints persisted in US casualty, auto, and high-catastrophe property. Per the report, reinsurance conditions and new entrants supported supply. 

Underwriting became more flexible for competitive lines but remained disciplined overall. According to Aon, strong data and risk improvement plans were key differentiators. 

Limits were generally flat, with increases in cyber, D&O, and some property placements. Per the report, deductibles stayed stable except in loss-affected casualty and auto. 

Coverage broadened for property, cyber, and D&O due to competition. According to Aon, restrictions remained for per- and polyfluoroalkyl substances exposures and catastrophe-exposed regions. 

Product Line Highlights  

Auto conditions were moderate globally, with more difficulty in Europe, the Middle East, and Africa (EMEA). Per Aon, electric vehicle fleets saw heightened scrutiny due to repair costs. 

Casualty remained soft outside the United States, where litigation trends pushed general liability and umbrella pricing higher. According to the report, workers compensation stayed competitive. 

Cyber remained soft with moderated reductions and rising claims frequency. Per Aon, capacity and underwriting flexibility remain strong. 

D&O continued to see reductions, increased limits, and broader coverage. According to the report, moderation is emerging in the United States and EMEA. 

Property saw widespread softening driven by ample capacity and favorable reinsurance terms. Per Aon, inflation, supply chain issues, and climate-related losses continue to create volatility. 

Claims Trends  

Insurers expanded claims teams and automation to improve service. Per Aon, automation is freeing adjusters for more complex matters. 

Social inflation continued to drive rising claim severity in the United States.

According to the report, nuclear and "thermonuclear" verdicts increased significantly. 

Cyber claims frequency rose globally. Per Aon, organizations need strong awareness training and response planning. 

Inflation and supply chain pressures continued to affect claims costs. According to the report, tariff impacts remain a concern for companies with extended supply chains. 

Regional Highlights 

Asia remained soft, with Japan an outlier due to firm underwriting. Per Aon, regulatory changes supported regional capital flow. 

EMEA experienced broad softening except in auto, high-risk property, and US-exposed casualty. According to the report, capacity was abundant. 

Latin America stayed competitive with strong insurer growth focus. Per Aon, political changes in Mexico and Chile may influence conditions. 

North America saw moderate overall conditions with favorable property terms but continued caution on US casualty. According to the report, buyers should reinvest savings in resilience. 

Pacific markets remained soft with abundant capacity. Per Aon, Australia saw increased liability claims driven by regulatory and litigation changes.