E&S property softening to 20% near-term, must yet ‘throttle back’ in ‘26

E&S property entered 2026 with rate decline of 12.5% to 20% and more on the way as carriers scramble to grab or retain business continues unabated, but amid realisation that the party can’t go on forever and 2026 is yet to bring some moderation to the softening, a top production leader at AJ Gallagher’s wholesale broking unit Risk Placement Services (RSP) is saying.