Broker alliance Unitas said its members had reported that softening rates on commercial lines are widespread.
It said renewals on existing terms of lower were part of a national pattern, according to its members.
A recent survey across its 11 members indicated a downward trend in rates in most classes, except liability.
Unitas said while it was possible to see some rate increases on some liability classes, competition in the property and motor fleet markets had been the highest, putting pressure on rates.
Unitas chief executive Les Jackson, said: “The message from around the country is that rates are coming down.
“Whilst we could have anticipated that we might see some downward correction to rating for some classes, it is difficult to understand the rationale where it is not supported by lower exposure.”
“In many cases lower rates are being driven by the availability of new capacity and the activities of a small number of brokers looking to exploit the soft market by pitching for business on a mandate to cut premiums.
“Most holding markets seem to be taking the view that they need to follow the market down to retain business. We have seen this all before and as everyone knows, it usually ends in tears.”
Unitas is an independent, regionally based alliance of 11 UK brokerages. It controls premium income in excess of £250m.
