Property renewal rates decline amid stable market conditions: CRC Group

CRC Group, a wholesale insurance services provider, reports the findings of its Property REDY® Index for the third quarter of 2025, revealing a continuation of the softening landscape.

The REDY Index uses CRC Group’s extensive collection of industry data to track monthly pricing trends, offering a reference point for brokers and retail partners.

By providing these insights, CRC Group aims to support informed discussions and decisions based on observed market patterns.

According to CRC Group, the property market remained soft during Q3 2025, with average renewal rates declining approximately 7% compared to the same period last year.

Over the quarter, around 81% of accounts renewed without a rate increase, while 19% saw adjustments. Catastrophe activity remained within anticipated ranges, sustaining underwriting stability and supporting ongoing capital inflows through reinsurance and insurance-linked securities, which have expanded overall market capacity.

CRC Group notes that while the market shows favourable conditions, macroeconomic pressures may influence underwriting considerations.

Rising tariffs could affect supply chains and increase costs, potentially impacting revenue without necessarily reflecting underlying financial performance. Brokers are encouraged to present evidence of stable income and margins to address these concerns.

Excess & Surplus (E&S) renewal volumes remained active, peaking in July and demonstrating steady engagement, even as rates continued to ease. Competitive dynamics across shared and layered placements contributed to ongoing deal flow during the quarter.

Overall, CRC Group observes that expanded reinsurance capacity and active carrier competition provided rate relief and improved terms. The outlook for Q4 2025 is expected to remain stable, barring major late-season catastrophe events.