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.
TWIA needs $4.227bn of reinsurance & cat bonds for 2025 as PML set at $6.227bn
25th February 2025
At a Board meeting held today, staff at the Texas Windstorm Insurance Association (TWIA) opted to set its 1-in-100 year probable maximum loss (PML) at $6.227 billion for the 2025 storm season, meaning that the association will need $4.227 billion in reinsurance and catastrophe bond coverage for the year. We reported ... Read the full article
West reports successful 2025 renewal backed by strong member support
25th February 2025
West P&I, a global insurance provider for the maritime and offshore industries, has reported a successful 2025 renewal across all business lines, with premium increases surpassing the Board’s objectives. For the third consecutive year, Member retention exceeded 99.5%, reflecting strong support from existing Members and steady organic growth both at renewal ... Read the full article
QBE able to ‘meaningfully reduce’ cat reinsurance retentions at Jan 1 renewal
21st February 2025
Australian insurance carrier QBE secured "meaningfully" lower retentions for its catastrophe reinsurance programmes at the January 2025 renewal, driven by recent exposure reductions and improved portfolio quality. Alongside its full year 2024 results, the global insurer and reinsurer has provided an update on the outcome of its recent reinsurance renewal. The firm's ... Read the full article
Strong potential LA wildfires very serious in terms of market impact: Conduit Re
19th February 2025
Executives from Bermuda-based Conduit Re have emphasised the significant impact of the California wildfires on the re/insurance market, highlighting the potential for the event to halt rate declines ahead of crucial upcoming renewals. Speaking at a briefing following the release of the firm's 2024 results, Neil Eckhart, Executive Chairman, described ... Read the full article
PPL reports strong platform performance during peak renewals season
17th February 2025
Placing Platform Limited (PPL) has reported strong platform performance and service delivery during the peak 1/1 renewals season. 2024 marked a year of significant transition for PPL, characterised by continuous platform enhancements, with a renewal season that culminated in near-faultless service standards for users during the traditionally busy renewals period, the ... Read the full article
AIG ‘grateful’ for partnerships after ‘very strong’ Jan 1 2025 reinsurance renewals: CEO Zaffino
12th February 2025
Global insurer AIG had another strong renewal season at 1.1 2025, with Chairman and Chief Executive Officer (CEO), Peter Zaffino, stating that since the reinsurance sector's major reset at the January 2023 renewals, the firm's consistency, strategy, placement, and execution has positioned it "very favourably." Zaffino discussed the primary insurer's 1.1 ... Read the full article
Markel “pretty pleased” with 1.1 reinsurance renewal: Noble
6th February 2025
The reinsurance market has seen a largely "orderly" start of the year, with favourable terms and pricing in some sectors, Markel’s Jeremy Noble, President of Insurance, noted as he commented on the company’s recent 1.1 reinsurance renewals, expressing satisfaction with the outcome. He stated: “With regards to 1.1, where we buy ... Read the full article
Keeping high attachment points is key: Vickers, Gallagher Re
6th February 2025
In a recent video interview with Reinsurance News, James Vickers, Chairman of Gallagher Re’s International division, emphasised the importance of attachment points for reinsurers, particularly in the face of increasing frequency of non-peak catastrophe events. Vickers noted that while rate has historically been a primary focus, the ... Read the full article
Hannover Re sees book grow 7.6% at Jan 1 as 2024 net income reaches €2.3bn
6th February 2025
Large European reinsurer Hannover Re has reported an increase in premium income in traditional property and casualty reinsurance by 7.6% at the 1 January 2025 treaty renewals, while its net income increased to €2.3 billion in the 2024 financial year. "The good quality of the renewed business was maintained, while an ... Read the full article
Arundo Re grows portfolio 13% at Jan 1 reinsurance renewals
5th February 2025
French reinsurance company Arundo Re grew its gross written premiums (GWP) by 13% across its portfolio at the January 1st, 2025, renewals to €970 million, with double-digit growth occurring in all segments despite what CUO Hervé Nessi describes as a "more challenging environment than expected." Around 70% of the reinsurer's portfolio ... Read the full article
Property cat rates still above what Everest needs to deploy in most markets: CEO, Williamson
4th February 2025
Despite property catastrophe reinsurance prices falling between 5% and 15% for loss free programmes at the January 1st, 2025, renewals, Jim Williamson, President and Chief Executive Officer (CEO) of Bermuda-based carrier Everest, has said that overall, rates are still above what's required for the firm to have appetite to deploy ... Read the full article
SCOR sees LA wildfire impact as manageable at roughly quarterly cat budget for Q1: Conoscente
4th February 2025
Jean-Paul Conoscente, CEO of P&C at SCOR, one of Europe's big four reinsurers, said today that the impact of the Los Angeles wildfires should be around a quarterly natural catastrophe budget for Q1 for the firm, emphasising that the event will act as a floor to the drop of cat ... Read the full article
SCOR achieves premium growth of 9.6% at Jan 1 reinsurance renewals with stable T&Cs
4th February 2025
French reinsurer SCOR grew its estimated gross premium income (EGPI) 9.6% at the January 1st, 2025, reinsurance renewals, with expansion across all three business segments, driven by alternative solutions and specialty lines. Approximately 64% of the firm's property and casualty (P&C) reinsurance premiums, representing around 50% of SCOR's total P&C premiums, ... Read the full article
No market hysteria but LA wildfire loss could temper reinsurance rate reductions seen at Jan 1: MMC
30th January 2025
Executives at global broking group Marsh McLennan (MMC) said today that although it's too early to tell exactly what impact the recent Los Angeles, California wildfires will have on the property market, moving forward, the magnitude of industry loss could temper risk-adjusted reinsurance rate reductions witnessed at the January 1st ... Read the full article
SI Re grew premium volume 10% and expanded client base at Jan 1 renewals
29th January 2025
Zug, Switzerland-domiciled reinsurer SIGNAL IDUNA Reinsurance Ltd (SI Re) strengthened its market position at the key January 1st, 2025, reinsurance renewals, growing its premium volume by around 10% year-on-year to €225 million, while further expanding its clients base with the addition of 9% in new clients. SI Re describes the 1.1 ... 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.
