Global commercial insurance prices have increased 4%, on average, in the fourth quarter of 2022, a decline from 6% in the third quarter. Regionally, composite pricing for the fourth quarter increased by 3% in the US, 4% in the UK, 6% in Europe, 7% in Latin America and the Caribbean, 2% in Asia, and 5% in the Pacific region. Globally, property insurance rates increased by 7%, casualty insurance rates increased by 3%, financial and professional lines rates decreased by 6% and cyber insurance rates increased by 28%. Many organisations are looking at a range of options, including the increased use of captives and alternative capital, to manage the market challenges.