Guy Carpenter’s July 2026 reinsurance renewal report has revealed that risk-adjusted decreases have deepened since January 1 in some cases, with the global property catastrophe rate on line (ROL) remaining down by around 16%.
The firm attributed the trend to benign loss activity, ample reinsurer capacity and strengthening risk appetite, which together continue to sustain a highly competitive pricing environment.
This, in turn, has enabled cedents to diversify their reinsurance panels and become more selective on price.
As covered earlier today, many are also exploring alternative options, such as parametric solutions and sidecars, as ways to complement their traditional protection.
Dean Klisura, President & CEO, Guy Carpenter, said he expects this trend to continue through the remainder of the year.
Elsewhere in the report, the global risk and reinsurance specialist said that more nuance has been observed with property per risk placements, with rates improving in some cases.
Pricing on US property per risk is in the range of flat to +10% for loss-impacted business, and between -5% and -15% on non-loss-impacted business.
In North America, Guy Carpenter explained that expansion of reinsurer appetites has led to greater interest in frequency protection coverages and broader products to enhance client risk transfer programs.
The firm also noted that cedents in Latin America & the Caribbean have been able to reconstitute coverage and explore new and supplementary purchases using savings secured, and as a result of extended reinsurer appetite.
“Demand for parametric covers grew in multiple regions, with the most successful placements solving for frequency protection structures that are currently unmatched in the traditional reinsurance market. Similarly, demand for structured solutions also continues,” Guy Carpenter said.
At the same time, Guy Carpenter highlighted July 1 as a key renewal date for Australia and New Zealand-based cedents, where domestic market consolidation has reduced demand for reinsurance limit.
Although Australia was loss-impacted by hailstorms in 2025, the report said risk-adjusted rate reductions continue. The broader Asia-Pacific property catastrophe ROL index decreased 19%.
Meanwhile, over 80% of Europe reportedly renews on January 1, with Guy Carpenter noting that rate reductions continue across the region at mid-year, with greater savings achieved for clients in top layers.
“The European property catastrophe ROL index remained broadly stable, with decreases of around 15% seen at January 1,” the firm’s report added.
Guy Carpenter also said continuity of coverage for Middle Eastern-based clients has remained paramount throughout mid-year renewals as the ongoing conflict evolves.
Despite this backdrop, rate reductions of between -10% and -15% across the MENA region and -10% to -20% in South Africa were observed.
