Guy Carpenter Regional Property Catastrophe Rate-On-Line Index

Latest reinsurance renewal commentary from Guy Carpenter

Property catastrophe reinsurance renewals saw rates falling at the January 2025 contract signings, albeit at a far more moderated level than the previous year.

Of these regional indices, US property catastrophe reinsurance rates-on-line decreased by 6.2% at January 1st 2025.

The US property cat RoL Index remains cumulatively 94.4% higher than it was in 2017, the bottom of the last soft market, and still at the highest level seen prior to 2023.

Meanwhile, Continental European property catastrophe reinsurance rates-on-line decreased by 5.3% at 1/1 2025.

The Continental European property cat RoL Index is now up by 65% cumulatively since the soft catastrophe reinsurance market bottomed out in 2017.

In Asia Pacific (APAC), property catastrophe reinsurance rates fell by 7.2% at the January 1st 2025 renewals, leaving this index up 32% since the market bottomed out in 2018 for this region.

Note that, Guy Carpenter has rebased the APAC rate-on-line Index from 2004 in its latest data, while the UK Index is no longer being reported.

Post April and mid-year 2025 renewals update:

Following the 6/1 and 7/1 reinsurance renewals at the mid-year, the Guy Carpenter U.S. Property Catastrophe Rate on Line Index is down a little further at a 6.7% decline for 2025 so far.

For this US index of property catastrophe reinsurance rates, the Index is still up by a significant 93% since its low in the soft market year of 2017.

For the Asia Pacific region index, after including the April 1st 2025 reinsurance renewal data, as of July this APAC property cat ROL index is now down by 15.9% in 2025.

Since its most recent low, this APAC index of property catastrophe reinsurance rates on line is now only up by 19.5% since 2018.

* Preliminary numbers.

• View the Guy Carpenter Global Property Catastrophe Rate-On-Line Index.
• View the Guy Carpenter U.S. Property Catastrophe Rate-On-Line Index.

The Guy Carpenter ROL index is a measure of the change in dollars paid for coverage year on year on a consistent program base.  The index reflects the pricing impact of a growing (or shrinking) exposure base, evolving methods of measuring risk and changes in buying habits, as well as changes in market conditions.  Unlike risk-adjusted measurements, the index is not dependent on the model or method used to measure the amount of perceived risk in a program, which can vary widely.