Reinsurance renewals news

Global reinsurance giant Swiss Re has reported this morning that the reinsurance renewal environment is challenging but said it is remaining disciplined. While premiums declined in natural catastrophe underwriting due to falling prices, the company cited broadly stable terms and conditions.

The Texas Windstorm Insurance Association’s (TWIA) reinsurance and catastrophe bond renewal for 2026 came in almost 12% under its budgeted spend for the coverage, while at a meeting later today its staff will recommend it continues with Gallagher Re as its reinsurance broker.

As the reinsurance industry has transitioned into a softening market phase, analysts at Berenberg have indicated that a single $100 billion catastrophe event is unlikely to revert the industry back to a hard market cycle.

Despite a surge in third-party capital assets under management within its Mt. Logan Capital Management unit, driven largely by the launch of the Annapurna Re casualty reinsurance sidecar, Jim Williamson, President and CEO of Everest Group has outlined that the company doesn’t change its underwriting logic based on the availability of third-party capital.

Global reinsurer SCOR said this morning it applied underwriting discipline at the “competitive” mid-year reinsurance renewals this year, growing in diversifying areas of the market, most notably in its alternative solutions business, while decreasing premiums written in non-cat US property lines, but remaining flat in US property catastrophe business.

Conduit Re appears to have made further enhancements to its retrocession program around the mid-year as its North Atlantic hurricane probable maximum loss fell further and the company disclosed increased core retro limit, aggregate cover and protection against second and third events.

A new report from Autonomous suggests that reinsurers are broadly keen to defend against any further loosening of terms and conditions (T&Cs), amid industry debate over the robustness of the response, leading the firm to note that T&C’s are now the new battleground.

The catastrophe bond market continued its strong momentum in 2026 driving another record period of issuance in the first-half of the year and analysis from global reinsurance firm Swiss Re’s Capital Markets division shows that since 2021 the outstanding cat bond market has been expanding at a roughly 15.5% compound annual growth rate.

RenaissanceRe’s property catastrophe reinsurance portfolio remains rate adequate at today’s pricing, CEO Kevin O’Donnell said today, laying out the shift in tactics the reinsurer employed in response to market conditions at the mid-year renewals.

Demand for industry-loss warranty (ILW) protection saw progressive momentum throughout Q2 2026, culminating in a peak during the mid-year reinsurance renewals. At the same time, after a record opening half to the year, catastrophe bond activity is expected to be very active in Q4, a new commentary from SCOR Investment Partners has highlighted.