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.
Munich Re expects property cat pricing to plateau at Jan 1 renewals: CFO Jurecka
7th November 2024
Christoph Jurecka, Chief Financial Officer (CFO) of global reinsurer Munich Re, said this morning that he expects property catastrophe reinsurance rates, overall, to be flat on average at the January 1st, 2025, renewals, despite the elevated level of catastrophe activity in the third quarter. Speaking after the release of the ... Read the full article
Jan 1 outlook is very positive amid stable market: Conduit Re CUO Roberts
6th November 2024
The re/insurance market has absorbed the elevated level of small and medium sized catastrophe events around the world so far this year, which will ensure pricing remains robust for the remainder of 2024 and beyond, leading Gregory Roberts, Chief Underwriting Officer (CUO) at reinsurer Conduit Re, to be positive on ... Read the full article
Frequency & severity losses will not be solved by reinsurers in 2025: AIG CEO
5th November 2024
This year, insured catastrophe losses have already exceeded $100 billion and are expected to easily breach the $120 billion mark, but with reinsurers poised to generate underwriting profits on their global catastrophe portfolios in 2024 after the significant market reset last year, industry losses will continue to be realised by ... Read the full article
We expect a stable 1.4 renewal as demand for re/insurance continues to rise in Japan: Swiss Re’s Dodo
5th November 2024
Global reinsurance giant Swiss Re continues to see increased demand for property insurance and reinsurance protection in Japan amid elevated large natural catastrophe threats and the impact of inflation, and with little sign of a significant influx of capital heading into 2025, the expectation is for a stable April 1st ... Read the full article
Property cat reinsurance rates to be up 5-10% in US & Europe at Jan 1: Everest CEO Andrade
31st October 2024
Executives at global insurer and reinsurer Everest Group said today that they expect property catastrophe reinsurance pricing in the US and Europe to be up by as much as 10% heading into the January 1st, 2025, renewals, following the impacts of hurricanes Helene and Milton in Florida and the severe ... Read the full article
Buyer-friendly market opens opportunities for year-end renewals: Aon’s Peiser
30th October 2024
Buyer-friendly conditions in the global insurance market have persisted through much of the third quarter of 2024, and even accelerated in some segments, creating opportunities as the year-end renewals draw near, Joe Peiser, Chief Executive Officer Commercial Risk Solutions, Aon, has noted. Insurer confidence and growth appetite have been restored over ... Read the full article
Reinsurance News Monte Carlo Executive Roundtable
29th October 2024
The Reinsurance News Monte Carlo Executive Rendezvous Roundtable took place at the 66th edition of RVS in September 2024 and featured insightful discussions on the reinsurance market as we head towards the key January 2025 renewals. In partnership with BMS Re and PwC, the 2024 Reinsurance News ... Read the full article
Reinsurance industry poised to meet demand at Jan 1, Gallagher projects strong 2025
25th October 2024
With the reinsurance industry remaining adequately capitalised and poised to meet demands at the upcoming January 1 renewals, J. Patrick Gallagher, Jr., Chairman, President and CEO of A.J. Gallagher & Co., remains confident that Gallagher Re will perform "very well" in 2025, regardless of how the market environment unfolds in ... Read the full article
Reinsurers to hold firm on T&Cs following back-to-back hurricanes: Moody’s
24th October 2024
A new report from Moody's has noted that the large losses incurred from Hurricanes Helene and Milton will provide support for the stabilisation of property catastrophe reinsurance pricing going into the January 2025 renewals. "Earlier this year, it appeared that reinsurance pricing momentum had stalled as pricing for higher attaching layers ... Read the full article
Reinsurers regain leverage as late storms drive up nat cat losses: Bloomberg
21st October 2024
With a series of late storms causing natural catastrophe losses to rise, pressure on reinsurers to cut pricing and offer more generous terms has eased, according to a new report from Bloomberg Intelligence (BI). As per Charles Graham, BI Senior Industry Analyst (Insurance), the insured cost of natural catastrophe losses may ... Read the full article
E+S Rück anticipates further price increases and improved T&Cs at Jan 1
21st October 2024
E+S Rückversicherung AG, the Hannover Re subsidiary responsible for German business, has indicated that further price increases and improved terms and conditions are likely at the January 1, 2025, property and casualty reinsurance renewals, following losses caused by severe weather events in the country. Discussing natural catastrophe covers, E+S Rück observed ... Read the full article
There may be some competition amongst certain markets at 1.1, NewRe CUO, Herrenpoth
21st October 2024
In the lead up to this year's Baden-Baden Reinsurance meeting, we spoke to Dirk Herrenpoth, Chief Underwriting Officer of Swiss reinsurer and Munich Re subsidiary, NewRe, about what his general expectations are heading into the key January reinsurance renewals. "A very frequently used word in Monte Carlo this year was equilibrium, ... Read the full article
Post Milton, we see a flattening of property cat pricing at Jan 1 renewals: Klisura, Guy Carpenter
17th October 2024
Dean Klisura, Chief Executive Officer (CEO) of Guy Carpenter, the reinsurance broking arm of Marsh McLennan, stated during the firm's recent earnings call that although it's still early, post hurricane Milton the broker sees a flattening of pricing in the property catastrophe market at the upcoming January 1 2025 reinsurance ... Read the full article
Material reinsured hurricane Milton losses could change trajectory of pricing at Jan renewals: KBW
7th October 2024
Despite noting the considerable uncertainty around Hurricane Milton's path and landfall location, analysts at KBW have suggested that possible reinsured losses from the event could drive property catastrophe reinsurance rates up at the January 1, 2025 renewals. With the National Hurricane Center (NHC) currently projecting that Milton will make landfall on ... Read the full article
JP Morgan expects the reinsurance market to stabilise heading into 2025
3rd October 2024
A new note from JP Morgan on the European reinsurance market following RVS 2024, says that with the industry now producing strong returns, analysts are expecting that 2025 will lead to a stabilisation of the reinsurance market. Analysts noted that they heard a relatively consistent message on pricing from market participants, ranging ... Read the full article
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