Real estate leads the way
The report shows that real estate remains one of the most competitive areas heading into 2026. Rate reductions in 2025 often ranged from high single digits to over 25%, influenced by increased global capacity, larger lines and oversubscription within tiered programs. Despite wildfires and a severe convective storm season that generated an estimated $42 billion in insured losses, overall real estate results for 2025 were considered manageable and contributed to an industry combined ratio of 89.1% in the third quarter.
