Reinsurance News
Reinsurance renewals news
Reinsurance renewals are the key points in the year when the majority of reinsurance contract renewal negotiations occur and are completed.
The reinsurance renewal seasons provide insight into reinsurance pricing, contract terms, reinsurance market positioning and the direction of future trends in the market.
Key reinsurance renewals occur at: the 1st of January, which is the biggest renewal of the reinsurance year and has a broader global focus; April 1st when Japanese reinsurance renews; June 1st for Florida reinsurance renewals; and July 1st when more US reinsurance business gets renewed.
Our reinsurance renewals news covers all of these key points in the year and we also provide analysis and insight into what to expect at upcoming renewal seasons as well.
RenRe built one of its largest & most profitable property cat portfolios at mid-year renewal: CEO O’Donnell
24th July 2025
Bermuda-based reinsurer RenaissanceRe (RenRe) had a strong mid-year renewal and constructed one of its largest and most profitable net retained property catastrophe portfolios, with the firm's President and Chief Executive Officer (CEO), Kevin O'Donnell, revealing that 80% of Florida premium the company wrote was at private terms above market rates. Speaking ... Read the full article
Travelers renews cat reinsurance programs at mid-year on similar terms, broadens coverage
17th July 2025
US primary insurer Travelers has renewed its major catastrophe reinsurance programs at mid-year on terms largely consistent with the prior year, with some adjustments to coverage. Namely, effective July 1, 2025, Travelers renewed its Northeast Property Catastrophe Excess-of-Loss Reinsurance to provide the same $1 billion of coverage, from the same ... Read the full article
Capacity & competition put further pressure on prices after 2024 peak: Fitch
16th July 2025
Abundant capacity and intensifying competition among reinsurers are driving softer pricing at the June and July renewals, reinforcing Fitch Ratings’ expectation that market pressures will continue to weigh on prices beyond their 2024 peak. According to the ratings agency, pricing across most reinsurance lines continued to fall at the mid-year renewals, ... Read the full article
Reinsurer returns to remain robust with steady ROE through 2027: Guy Carpenter
4th July 2025
As reinsurance rates continued to soften at the mid-year renewals, the return on equity (ROE) for full year 2025 is expected to decline from 2024, although remain above the cost of equity and at a higher level than during the most recent soft market years, suggesting continued profitability and strong ... Read the full article
US property cat reinsurance market in favour of buyers at mid-year renewals: Aon
3rd July 2025
Conditions in the U.S. property catastrophe reinsurance market continued to shift in favour of buyers at the mid-year renewals, yet portfolio returns remain strong and attractive for reinsurers and investors alike, even with the rate reductions, according to Aon. A new report from the firm has suggested that capacity was abundant, ... Read the full article
Mid-year renewals shows reinsurers now eager to expand in Florida: Gallagher Re
2nd July 2025
According to reinsurance broker Gallagher Re’s 1st View mid-year renewal report, recent legislative reforms in the State of Florida encouraged reinsurers to write across the board at the mid-year renewals, in hopes of maintaining their market share on programmes. The reforms, signed into law in late December 2022, have successfully ... Read the full article
Suncorp shrinks main cat cover at renewal and adds multi-year solution
1st July 2025
Australian insurer Suncorp has completed its 2026 reinsurance renewal, securing main catastrophe cover for losses between $500 million and $6.3 billion, and has added a structured, multi-year solution that reduces exposure to $350 million for a first and second event, with the cost of the programme expected to come down ... Read the full article
Lemonade lowers reinsurance overhead at renewal following improved diversification
1st July 2025
Lemonade, the digital insurance company powered by AI and social impact, has renewed its reinsurance program, reducing the ceded proportion of its quota share reinsurance from approximately 55% to approximately 20%, effective July 1. According to the firm, this decision was made given strong progress in its diversification, underwriting prowess and ... Read the full article
Trading environment one of most favourable for reinsurers in many years: Guy Carpenter
1st July 2025
Despite extensive loss activity in Q1, Guy Carpenter anticipates strong reinsurer performance to continue for the rest of 2025, with capital growth of 5% to 7% by year-end. Even with global economic volatility and insured losses nearing $70 billion through H1 of 2025, the reinsurance renewal trends observed at January 1 ... Read the full article
Supply & demand balance shifts back towards buyers at mid-year reinsurance renewals: Gallagher Re
1st July 2025
Buyers of protection had the opportunity to secure improvements to the structure of their property and specialty reinsurance programmes at the July 1st, 2025, reinsurance renewals, a period in which Gallagher Re notes a shift in the balance of supply and demand back towards reinsurance buyers. The reinsurance broker's 1st View ... Read the full article
Trend towards buyer-friendly conditions accelerated at mid-year renewals: Aon
30th June 2025
In its mid-year 2025 reinsurance market dynamics report, Aon has highlighted that the increased availability of property catastrophe reinsurance, combined with greater flexibility from reinsurers, makes this an opportune moment for insurers to reevaluate their protection strategies. As regular readers will know, June 1 and July 1 mark major reinsurance renewal ... Read the full article
Orion180 lifts reinsurance coverage 31% for 2025 hurricane season to $845m
24th June 2025
Insurance solutions provider Orion180 has completed its excess-of-loss (XOL) and net quota share reinsurance agreements for the 2025 hurricane season totalling $845 million, which represents a 31% increase from the 2024 programme. The renewed reinsurance programme is backed by a robust panel of 35 leading global reinsurers, and covers both Orion180 ... Read the full article
ILS and collateralised reinsurers dominate Florida Citizens 2025 renewal
24th June 2025
Final lines for Florida Citizens Property Insurance Corporation's 2025 risk transfer programme reveal that insurance-linked securities (ILS) and collateralised markets make up the majority of the new reinsurance placed, and the total tower for the year ahead. Yesterday, we reported that Citizens, Florida's insurer of last resort, had successfully secured ... Read the full article
Citizens secures $4.49bn risk transfer target for 2025 with lower ROL for new reinsurance
23rd June 2025
Florida's Citizens Property Insurance Corporation, the state's insurer of last resort, has cited favourable market conditions as it was able to successfully place its target risk transfer programme of $4.49 billion for the 2025 wind season, which includes $2.89 billion of new coverage from the traditional reinsurance and capital markets. Back ... Read the full article
Kin secures $1.4bn Florida reinsurance coverage at June 1 amid market expansion
17th June 2025
Kin Insurance has revealed that the reciprocal exchanges it manages, Kin Interinsurance Network and Kin Interinsurance Nexus Exchange, have completed their reinsurance programs for the period of June 1, 2025, through May 31, 2026. For Florida, Kin has secured $1.4 billion in reinsurance protection against natural catastrophes, reinforcing its commitment to ... Read the full article
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