Reinsurance renewals news

News continues to emerge that reflects the increased availability of aggregate reinsurance protection, as an analyst report shows Italian insurance and financial services group Unipol secured a planned €300 million aggregate reinsurance treaty to better protect it against smaller catastrophes and weather losses.

The global reinsurance sector has entered the second half of 2025 with strong momentum, driven by a potent mix of capital inflows, favourable underwriting conditions, and robust investor returns, according to reinsurance broker Guy Carpenter.

A wave of alternative capital, led by a record-setting surge in catastrophe bond issuance, helped reinsurers meet growing demand without pushing prices higher at the July 1 renewals, according to Gallagher Re, as cedants secured improved terms in property and specialty lines.

Australian primary insurance giant Suncorp Group has purchased a smaller reinsurance tower at the mid-year 2025 renewals and despite having spent time assessing alternative reinsurance structures, at this stage there appears to have been minimal change to its protection buying strategy.

Global reinsurance capital outpaced demand at the 2025 mid-year renewals, fostering a more competitive environment for buyers, according to Aon. The firm also estimated that insurance-linked securities (ILS) capital remained stable at $115 billion as of the end of the first quarter, underscoring the ongoing strength and resilience of alternative capital sources.

We’ve reported before that the giant insurance-linked securities (ILS) portfolio managed by PGGM, the Dutch pension fund investment manager, on behalf of its end-client Dutch pension PFZW, had delivered a 15.1% net of costs return for calendar year 2024, on a Euro hedged basis.

The specialty re/insurance market may be starting to soften, but the inflection point into a full soft market remains two to three years away, according to a new report from Peel Hunt.

Across the entire roughly $4.49 billion reinsurance risk transfer tower of Florida’s Citizens Property Insurance Corporation the capital markets have taken their largest share proportionally in 2025, with around 87% of the total backed by catastrophe bonds, collateralized reinsurance markets and ILS fund managers.

Insurance solutions provider Orion180 has increased its reinsurance tower by 31% year-over-year, reaching $845 million of limit for the 2025 hurricane season. The completed placement includes both excess-of-loss (XOL) and net quota share agreements, reflecting the company’s continued growth in high-risk, catastrophe-exposed markets.

Florida’s Citizens Property Insurance Corporation has confirmed that it has successfully completed its reinsurance renewal for the 2025 hurricane season, securing the targeted traditional and catastrophe bond coverage for less than the budget that had been set.