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.
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
Reinsurance market participants divided on price movements at Jan ’25 renewals: Fitch
25th September 2024
Reinsurance market players are divided on whether price increases at the key January 1st renewals will be strong enough to properly account for increasing loss trends in the property catastrophe space, although Fitch Ratings expects reinsurers to maintain their strong profitability in this line of business. The global rating agency has ... Read the full article
Tower completes FY25 reinsurance renewal, lifts catastrophe upper limit by NZ$50m
23rd September 2024
Kiwi insurer Tower has renewed its reinsurance coverage for the 2025 financial year, increasing its catastrophe upper limit to NZ$800 million with a higher attachment point than last year. Tower says that it has secured comprehensive cover at competitive rates for its home, motor, boat and commercial portfolios across New Zealand ... Read the full article
RVS Roundtable: The market’s in a decent position, but it’s at that pivotal point
19th September 2024
Reinsurance News held its second Monte Carlo Roundtable at the 66th Rendez-Vous de Septembre last week, during which six experienced reinsurance industry executives debated a range of topics including property and casualty market conditions, structural changes, models, technology, cyber, and more. Sponsored by reinsurance broker BMS Re and professional services firm, ... Read the full article
Growth could be challenged when current pricing momentum starts to moderate: Thompson, Gallagher Re
19th September 2024
Growth was a key topic for re/insurers at RVS 2024, Will Thompson, Global Head of Clients of Gallagher Re, commented, but this could be challenged when the current strong pricing momentum begins to moderate. Speaking with Reinsurance News at the annual meeting of the reinsurance industry in Monte Carlo, Thompson said: ... Read the full article
Evolving risk landscape presents new challenges for re/insurers in Asia: Peak Re’s Hahn
17th September 2024
One of the biggest challenges currently facing the Asian re/insurance market is the substantial protection gaps, particularly for natural catastrophes, according to Franz-Josef Hahn, Chief Executive Officer of Peak Re. Reinsurance News spoke to Hahn around this year's Rendez-Vous de Septembre (RVS) in Monte Carlo about a range of topics, such ... Read the full article
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