Reinsurance renewals news

As reinsurance market conditions ease meaningfully for Florida based insurers at the mid-year renewals, an analyst report has cited American Integrity CEO Bob Ritchie as saying the easing is around more than just price, with improvements in terms and conditions suggesting “Humpty Dumpty is getting put back together.”

RenaissanceRe Group Chief Underwriting Officer (CUO) David Marra highlighted during the firm’s Q1 2026 earnings call, that new demand for reinsurance protection ahead of the key mid-year renewals was trending higher than the company initially projected at the January 1st renewals.

The mid-year 2026 property catastrophe reinsurance renewals are seeing pricing outcomes skewing towards the worst end of a -15% to-20%+ range, while catastrophe bonds have become more of a competitive threat to reinsurers now given longer-durations of cover and better rates, according to Aditya Dutt, President of Aeolus Capital Management.

Patriot Select Property and Casualty Insurance Company, a Florida based insurer, has announced the completion of its 2026 catastrophe reinsurance renewal, with $220 million of private market limit, $90 million of FHCF cover and $145 million to protect against second and subsequent events.

Property insurers in the State of Florida are expected to benefit from a more pronounced softening of reinsurance pricing and rates at the June 1 2026 renewals, which may serve to sustain the positive market momentum being seen since the legislative reforms, AM Best has explained.

The Texas Windstorm Insurance Association’s (TWIA) reinsurance renewal for 2026 is fully-committed by markets and expected to be signed in the next couple of days, while Allen Cashin of Gallagher Re said that the competitive auction-like process the broker employed has resulted in the “optimal structure at the lowest price.”

American Coastal Insurance Company (AmCoastal) has successfully renewed its core catastrophe reinsurance program for 2026/27, with first event limit now extending to $1.68 billion, as the company secured 14.4% more in coverage for $1.918 billion of occurrence-based limit in the aggregate.

According to broker Aon, underwriting discipline remains intact despite the softening global re/insurance property market, as firms continue to prioritise risk selection and technical pricing, driven by heightened concerns regarding climate-driven natural catastrophes, secondary perils, and evolving geopolitical risks.

The mid-year 2026 reinsurance renewal for American Coastal Insurance Company (AmCoastal) is “effectively complete” its CEO Brad Martz has explained, with the top of the tower lifting to over $1.6bn, while the company has added more aggregate protection as well.

Munich Re made a “deliberate reduction in premium volume” at the April reinsurance renewals, systematically opting not to renew business that did not meet expectations on price or terms and conditions, but one signal of encouragement is that the company said it sees high levels of competition in the sector as “still mainly on price.”