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.
Reinsurers see capital growth in 2024 amid lower-than-expected hurricane losses: AM Best
29th January 2025
A new AM Best report has observed that the lower-than-expected losses from Hurricanes Helene and Milton, coupled with strong investment income, allowed reinsurers to improve their capital positions in 2024 and supply the market with additional property capacity, influencing pricing heading into 2025. According to the rating agency's report, as the ... Read the full article
Liberty Mutual announces $2.8bn property cat occurrence reinsurance, $500m aggregate limit
28th January 2025
Insurer Liberty Mutual has $2.8 billion of property catastrophe occurrence reinsurance limit excess a $1 billion retention, with one reinstatement, for its domestic business as of January 1st, 2025, alongside some aggregate coverage, the company has announced. Liberty has disclosed its reinsurance coverage for its domestic business as of January 1 ... Read the full article
Ageas Re grows book at Jan 1, accelerates specialty lines development amid softening cat market
27th January 2025
Ageas Re, the reinsurance arm of international insurance group Ageas, grew its book at the January 1st, 2025, renewals, securing €34 million of profitable new business as the firm accelerated its strategy to develop its specialty lines offering in anticipation of a softening catastrophe market. The reinsurer notes that it completed ... Read the full article
Travelers increased casualty reinsurance coverage at lower attachment point at Jan 1: CFO Frey
24th January 2025
U.S. insurer Travelers enhanced its casualty reinsurance program at the January 1st, 2025, renewals, purchasing more protection at a lower attachment point on the back of strong interest from the market, confirmed Dan Frey, the firm's Chief Financial Officer (CFO). Travelers released a very strong set of results for the ... Read the full article
Reinsurers positioned reasonably well for 2025 after 1.1 renewals: Vickers, Gallagher Re
23rd January 2025
Speaking with Reinsurance News in a recent video interview, James Vickers, Chairman of reinsurance broker Gallagher Re's International division, said that after the January 1st renewals, reinsurers are well placed but the question for companies for the rest of the year is what they can do about growing their ... Read the full article
Travelers ups catastrophe XoL reinsurance cover for 2025 with higher retention
22nd January 2025
US primary insurer Travelers has raised the retention limit of its catastrophe excess-of-loss (XoL) reinsurance treaty for 2025 by $500 million. The 2025 treaty, which covers the accumulation of certain property losses arising from one or more occurrences, provides for recovery of up to $3.675 billion (a slight increase from ... Read the full article
Cat bond demand extremely strong, collateralised reinsurance returning: Gallagher Securities
16th January 2025
For various buyers of protection, the insurance-linked securities (ILS) market remains an integral part of their overall reinsurance purchasing decision, and demand for the catastrophe bond product was extremely strong in 2024, while demand for collateralised reinsurance is also returning, according to Gallagher Securities, the insurance-linked securities (ILS) and capital ... Read the full article
Favorable reinsurance market conditions to continue despite being past the ‘super cycle’ peak: Autonomous
16th January 2025
The re/insurance market is experiencing a shift, with the peak of the current "super cycle" now behind. Yet, while it is believed it will continue a moderate decline, optimism remains about continued favourable conditions, Autonomous stated in a recent report. This cycle appears to be very different to prior ones, analysts ... Read the full article
FEMA lifts NFIP reinsurance coverage at renewal
16th January 2025
The U.S. Federal Emergency Management Agency (FEMA) transferred $757.835 million of the NFIP's financial risk to the private reinsurance market at its renewal for a total premium of $139.9 million, as the number of participating reinsurers increased year-on-year. The 2025 reinsurance placement covers 12.0334% of NFIP losses between $7 billion and ... Read the full article
Retrospective market stabilises in H2’24, strong activity seen in North America: Gallagher Re
14th January 2025
The retrospective market displayed signs of stabilisation in the second half of 2024, after the previous 18 months featured a contraction of counterparties offering cover, as well as increase in execution risk, amid material prior year adverse development across certain lines and jurisdictions, according to reinsurance broker Gallagher Re. As per ... Read the full article
Reinsurance getting more competitive as capital levels rise, says Evercore
10th January 2025
According to Evercore's reinsurance renewals report, growth in dedicated reinsurance capital is expected to outstrip growth in demand, resulting in pressure being put on property catastrophe pricing that will likely accelerate throughout 2025. The firm noted that capital levels continue to increase and have reached new heights in 2024. Readers may ... Read the full article
Capital supply was sufficient to meet demand for most placements at 1.1 casualty renewals: Howden
10th January 2025
Differentiation was a key focal point leading up to the 1.1.2025 casualty reinsurance renewals, however, whilst there was a considerable focus on litigation risk and loss cost trends in the US, outcomes were reportedly determined by loss experience, underlying rate change and reserve development on individual portfolios, according to broker ... Read the full article
Reinsurers remain keen to grow property books despite easing of conditions at 1.1: Aon
8th January 2025
Even with the further easing of conditions at 1.1, the property catastrophe reinsurance market is priced to produce target expected returns for reinsurers, according to Aon's Reinsurance Market Dynamics January 2025 Renewal report. With strong capital levels and increased confidence in current pricing and terms, reinsurers are also reportedly eager to ... Read the full article
American Coastal renews cat XoL agreement, adds $40m of aggregate reinsurance limit
8th January 2025
Florida-based American Coastal Insurance Corporation (ACIC) has renewed its catastrophe excess of loss agreement (AOP CAT agreement), which provides up to $90 million in per-occurrence coverage above a $10 million attachment point, and has also secured $40 million in aggregate catastrophe limit at the January renewals. The AOP CAT agreement, facilitated ... Read the full article
Reinsurance market to remain largely attractive for buyers and sellers in 2025: Aon
7th January 2025
Global broking group Aon expects the reinsurance market to remain largely attractive for both buyers and sellers of protection in the months ahead, but has called on reinsurers to demonstrate their value as they target top line growth. In its latest Reinsurance Market Dynamics report, which explores the January 1st, 2025, ... Read the full article
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