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.
Casualty (GTPL) in Japan remained a challenging class at April 1 renewals: Gallagher Re
2nd April 2025
Casualty General Third Party Liability (GTPL) in Japan at the April 1st, 2025, reinsurance renewals remained a challenging class of business, with excess-of-loss programmes with no loss emergence experiencing flat rates to up 5%, according to reinsurance broker Gallagher Re. In a recent report, Gallagher Re noted that cedents' significant efforts ... Read the full article
India reinsurance market conditions improved at 1.4 amid strong demand: Aon
2nd April 2025
Increased competition, capacity and engagement have improved the Indian reinsurance market conditions at the recent April renewals, according to a market update by Aon, a risk management and professional services firm. Aon disclosed that reinsurers are keen to grow in the region, as most placements achieved single-digit reductions for property reinsurance, ... Read the full article
Reinsurers willing to deploy additional capacity at Asia April 1 renewals: Aon
1st April 2025
Aon, a global risk management and professional services firm, has released its 2025 April Reinsurance Market Dynamics Report, detailing favourable conditions for buyers during the April 1 renewals, a period heavily focused on Asia and particularly Japan. According to Aon, reinsurers displayed a strong willingness to deploy additional capacity at this ... Read the full article
Growth in traditional & alternative takes total reinsurer capital to new high of $715bn in 2024: Aon
1st April 2025
Global reinsurer capital increased by almost 7% over the course of 2024 to a new high of $715 billion, driven by strong retained earnings and an expanding catastrophe bond market, according to insurance and reinsurance broking group, Aon. Aon's April 2025 Reinsurance Market Dynamics report explores key market trends in the ... Read the full article
‘Accelerated softening’ at April 1 renewals with more capacity and optionality, says Gallagher Re
1st April 2025
Headline reinsurance rate changes in Japan at the April 1st renewals show "accelerate softening" when compared to the major international renewals at January 1st, with more capacity and optionality for buyers a clear trend, as traditional capital hit a new high of $655 billion, according to reinsurance broker Gallagher Re. After ... Read the full article
Japanese property cat reinsurance pricing ‘eased from a high base’ at April 1 renewals: Howden Re
1st April 2025
Japan risk-adjusted catastrophe excess-of-loss (XoL) rates on-line saw reductions of 10-15% at the April 1st, 2025, reinsurance renewals, as pricing "eased from a high base" as sellers looked to protect or grow positions while buyers leveraged support for the more difficult to place programmes, according to reinsurance broker Howden Re. Overall, ... Read the full article
LA wildfires an earnings event that will mostly affect US renewals: S&P
21st March 2025
Despite significant losses from the California wildfires in January 2025, S&P Global Ratings considers it an earnings event and expects it to mostly affect US renewals rather than global markets, according to Taoufik Gharib, Director & Lead Analyst, Reinsurance Ratings. Speaking during S&P’s Fourth Quarter U.S. Insurance Webinar, Gharib noted that ... Read the full article
Japan reinsurance renewals to experience increased rate pressure compared to Jan 1, poll reveals
21st March 2025
Following the January reinsurance renewals, the industry's focus now shifts to the critical April 1 renewals in Japan, navigating a landscape shaped by recent natural catastrophes and economic uncertainties. A recent Reinsurance News poll asked readers their market expectations for Japanese property catastrophe reinsurance rates, which revealed a close split. 40% of ... Read the full article
US property cat reinsurance rates to stabilise at mid-year renewals: Moody’s
14th March 2025
After an overall mixed pricing picture at the January 1st, 2025, reinsurance renewals, the impacts of Hurricanes Helen and Milton and the costly California wildfires, analysts at Moody's expect property cat reinsurance pricing to stabilise at the upcoming US-focused mid-year renewal rounds. As highlighted by Moody's in a recent note, several ... Read the full article
Reinsurance market to plateau at a high level through future renewals: Sven Althoff
13th March 2025
Hannover Re, one of Europe's big four reinsurance companies, expects the renewal rounds for the rest of 2025 to be similar to the experience at January 1st with the market poised to plateau at a high level, according to Sven Althoff, Member of the Executive Board for property and casualty ... Read the full article
Citizens needs $2.94bn of new risk transfer to secure proposed $4.54bn of reinsurance for 2025
11th March 2025
Citizens Property Insurance Corporation, Florida's property insurer of last resort, will need to purchase an additional $2.94 billion of new private market risk transfer to secure reinsurance coverage of approximately $4.54 billion for 2025, with budgeted premiums of roughly $650 million. Back in December, Citizens projected that it would need ... Read the full article
CEA’s risk transfer tower contracts to $7.85bn after Jan reinsurance renewal
7th March 2025
The California Earthquake Authority's (CEA) risk transfer tower decreased further in size through the January 1st, 2025, reinsurance renewals, as renewed traditional reinsurance contracts were placed at a lower volume than those that expired at the end of the year. Last year, we reported that the CEA's reinsurance and risk ... Read the full article
Lancashire expects less property cat reinsurance rate softening after LA wildfires: CUO Gregory
6th March 2025
Paul Gregory, Chief Underwriting Officer (CUO) of re/insurance company Lancashire Holdings Limited, expects there to be less property catastrophe reinsurance rate softening than initially anticipated for the remainder of 2025, following the impacts of the costly January wildfires in Southern California. Industry losses for the January 2025 Los Angeles wildfires are ... Read the full article
LA wildfires erode ‘a good portion’ of Lancashire’s annual aggregate reinsurance deductible
6th March 2025
Losses from the extremely damaging and costly Los Angeles, California wildfires have eroded "a good portion" of the annual deductible of Bermuda-based Lancashire's aggregate reinsurance cover, the company has revealed. Last month, Lancashire announced estimated, aggregate net ultimate losses from the January 2025 wildfires in California of between $145 million ... Read the full article
Well-priced reinsurance market keeps insurers honest: Beazley CEO
4th March 2025
As specialist insurer Beazley works through its April 1st reinsurance renewal, Chief Executive Officer (CEO) Adrian Cox has said that availability of coverage isn't the issue, it's really about what the rate is, reiterating that a well-priced reinsurance market is good for the company. This morning, Beazley posted a strong ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
