Reinsurance renewals news

Universal Insurance Holdings, Inc. once again expanded its reinsurance limit at the 2026 mid-year renewal, lifting the top of the reinsurance tower to $2.623 billion, with institutional capital from ILS manager Nephila Capital a key participant in the renewal again for the insurer.

Reinsurance buyers in Florida continue to turn to and leverage the catastrophe bond amidst rising appetite for risks from the state and softening of property catastrophe rates, with over $3.2 billion of new Florida-focused cat bonds having been issued thus far for 12 sponsors in 2026 year-to-date (up to May 12, 2026), according to Guy […]

Property catastrophe reinsurance pricing has declined by 15% to 20% across many layers of the tower at the June 1st renewals according to broker Guy Carpenter, who highlighted improved property insurance market conditions, strong reinsurer balance-sheets and rising investor appetite as key drivers of the renewal dynamics.

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.