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Renewal Resource Center

On the Road to 1/1: APCIA

Latest Insights

A New Era of Risk, A New Era of Innovation

In the lead up to January 1, 2025 renewals, we expect outcomes continue to be dependent on technical, data-driven renewal negotiations. While reinsurance renewal conditions are currently being impacted by a range of factors, such as geopolitical volatility and continued economic and social inflation, the market remains strong with healthy reinsurer returns on equity, and adequate capacity.

Please continue to check back to this Renewal Resource Center regularly for updates.

Innovation Hub

Visit our Innovation Hub at APCIA to learn more and speak with our experts.

  • GC AdvantagePoint

    In a new era of risk, the frequency of severe weather events continues to be a loss driver for businesses. Respond faster to CAT events and underwrite more profitably with GC AdvantagePoint®.

  • Climate Risk

    Guy Carpenter can help you effectively assess your risk to natural catastrophes through our comprehensive framework. Our solutions are designed to aid in regulatory responses, industry benchmarking and underwriting strategies.

GC CyberExplorer Gateway

GC CyberExplorerSM Gateway, the industry’s first interactive cyber benchmarking dashboard, empowers insurance companies with real-time peer insights to make informed business strategy decisions. Through GC CyberExplorer Gateway, Guy Carpenter cyber clients now have exclusive direct access to superior exposure analytics and unparalleled market intelligence.

Learn more

Global Specialties Report

Global Specialties 2024 Market Update

The global specialty reinsurance market has entered a period of relative stability, following market upheaval characterized by significant rate movements, more restrictive terms and conditions, and upward shifts in attachment points. The Global Specialties 2024 Market Update: Key Report Findings provides a unique data-driven perspective on developments across the Non-Marine, Terrorism, Marine and Energy, Construction & Engineering, Aviation & Aerospace and Trade Credit, Bond and Political Risk sectors.

Read more

  • Cyber Threat

    Disruption creates new opportunities to be prepared.

  • Disruption creates new opportunities to be resilient.

  • Disruption creates new opportunities to be ready.

Monte Carlo 2024

A new era of risk

Media Briefing Recap: Dynamic Trading Environment Meeting Reinsuarnce Demand

The reinsurance market is characterized by reinsurers’ strong profitability in 2024 and growing capitalization, which is expected to continue into 2025. This is the view from a panel of Guy Carpenter business leaders who participated in a virtual media briefing Dynamic Trading Environment Meeting Reinsuarnce Demand hosted by Guy Carpenter which addressed the market outlook for the January 1, 2025 reinsurance renewals.

Download the Media Briefing Recap [PDF]

Read the full press release

  • “The market has ample capacity and reinsurers are motivated to engage with cedents. Our clients are seeking to differentiate themselves in this marketplace and leverage key strategic trading relationships.”

    Dean Klisura, President & CEO
  • David Priebe

    "This current trading cycle is marked by engaged stakeholders actively coming to the table providing critical capital and financial support to the economy."

    David Priebe, Chairman

July 2024 Renewals

Mid-year renewals reflected a transitioning reinsurance market meeting demand in a dynamic trading environment. Loss-free property programs saw easing of pricing, even as demand increased. Casualty renewal outcomes varied by sublines as well as reinsurance type. General liability and excess/umbrella placements that are US exposed experienced continued reinsurance pricing pressure for excess of loss programs, while quota share outcomes were tied to the amount of adverse development. 

The preliminary mid-year Guy Carpenter US Property Rate on Line Index is near flat year-on-year.

To Read Full Press Release >>

Download the US Property Catastrophe Rate on Line (ROL) Index >>

January 2024 Renewals

A responsive reinsurance market has materialized at January 1, 2024 renewals, reflecting ample capacity and a commercial approach to trading partnerships, albeit with continued underwriting rigor.

Reinsurance capacity increased through year end, driven by rebounding capital in the sector and healthy reinsurer returns, estimated to be near 20% for 2023. Guy Carpenter, in partnership with AM Best, estimates total dedicated reinsurance capital increased by 10% compared to year-end 2022. Differing from past years following a major market correction, capital growth was driven by existing reinsurers with no start-up class of 2023.

To Read Full Press Release >>

July 2023 renewals

The broader market trends seen at January 1, 2023 continued at mid-year renewals, but with improved timing and concurrence around terms and conditions. While property pricing saw continued risk-adjusted rate increases in many segments, the average change moderated from January 1.

Global property catastrophe reinsurance risk-adjusted rate increases ranged from +10% to +50%, with loss-impacted clients often seeing higher pricing. In the US, property catastrophe reinsurance risk-adjusted rate increases were on average the highest in 17 years, with loss-free accounts generally up +20% to +50%.

The preliminary year-to-date Guy Carpenter US Property Catastrophe Rate on Line Index, an alternative measure of price change that incorporates the impact of structural adjustments and current views of risk on actual dollars paid, increased 35% for January through July renewals. 

To Read Full Press Release >>

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