Reinsurance renewals news

Clarisse Kopff, Member of the Board of Management at Munich Re, expressed that the company expects pricing to be a key topic of discussion at the 2025 Baden-Baden Reinsurance Meeting next week, while also emphasizing that the reinsurer is ready to deploy more capital ahead of the January renewals with structures projected to hold.

Despite a series of large catastrophe events within the past year, such as Hurricanes Helene and Milton, and the Los Angeles wildfires, capacity in the reinsurance sector continues to build and prices should begin to get progressively softer, according to J.P. Morgan.

Insurance-linked securities (ILS) capital is shaping reinsurance pricing in the upper-layers, but how the year-end renewals will play out depends on the rest of hurricane season, the potential for any capital to be trapped and the amount of fresh inflows, according to Mike van der Straaten, the CEO of Antares Global.

As the insurance-linked securities (ILS) market moves into 2026, GC Securities aims to grow its business by expanding in catastrophe bonds, property sidecars, casualty ILS, multiline facilities, and surplus notes, while also putting a particular focus on artificial intelligence, senior leaders from the firm told Artemis in an interview.

The Texas Windstorm Insurance Association (TWIA) is now projecting that the amount of reinsurance and catastrophe bonds it may require for the 2026 wind season could be roughly 46% lower than this year’s program, with $2.3 billion of limit the current forecast.

Over the next year, a vast majority of reinsurance buyers expect attachment points for their excess of loss programs to remain stable. Many also indicated interest in purchasing more aggregate reinsurance in 2026 and additional tail-risk coverage during the year, the latest survey by Moody’s Ratings shows.

The insurance-linked securities (ILS) market remains in good shape, but opportunities exist to refine terms and conditions in the traditional reinsurance space, where coverage in some areas remains broad, Niklaus Hilti, Chief Investment Officer (CIO) of Euler ILS Partners, told Artemis in a recent interview.

Recent tort reforms in Florida have signaled a notable shift in the state’s property insurance market, with June’s reinsurance renewals also providing further evidence of the market’s recovery, according to broker Gallagher Re.

Florida’s property insurer of last resort Citizens Property Insurance Corporation is anticipating lower reinsurance costs in 2026, as its policy count and exposure-base has continued to decrease meaning less limit is likely to be needed, while there is an expectation of improved market conditions due to softening that may persist.

Auckland, New Zealand-headquartered insurer Tower Insurance has extended its catastrophe reinsurance protection for the coming year at its latest renewal, securing limit to cover a first-event of up to NZ $915 million, while experiencing improved renewal pricing thanks to structural adjustments.