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Renewal Resource Center

On The Road To 1/1: Baden-Baden

Latest Insights

Reinsurance market conditions put cedents in strong position

Despite an extended period of elevated natural catastrophe losses and ongoing geopolitical and macroeconomic uncertainty, the global reinsurance sector remains resilient and profitable.

Strong reinsurer earnings, expanding capital, plentiful capacity, and a shift toward more sustainable risk-taking continue to define the market. This sets the stage for cedents to approach the 2026 renewal period with opportunities to secure tailored, high-quality coverage.

Insights from Baden-Baden

Examining the Natural Catastrophe Landscape in Europe

Matthew Eagle and Francois Dagneau cover how quantifying risk across perils is becoming vital to managing risk and adapting business strategies.
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Strategic Momentum Builds as Conditions Align in Global Insurance M&A

Laurent Rousseau and Alexander Schnieders look at the encouraging climate for dealmakers and momentum in M&A activity across the (re)insurance sector.
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Geopolitics, Volatility and Consequences for the (Re)insurance Sector

Jay Dhru and Richard Hewitt discuss how (re)insurers can meet the challenges of volatility in an uncertain world.
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Explore our 'Word on the Street' video series

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Insights from APCIA

  • Casualty: A Market of Opportunity

    Chris Ross and Blake Berman share valuable insights on the current state of the US casualty market and what it means for the (re)insurance industry, as well as Guy Carpenter’s unique perspective.

Innovation Hub

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

GC Edge

GC Edge is Guy Carpenter’s industry-leading client portal that serves as a single access point for information, tools and services. And with our new Workbench module, we offer an elevated approach to collaboration, designed to give our clients a centralized and more efficient placement experience.
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Watch our GC Edge video

GC Cat Studio

GC Cat Studio is a suite of easily accessible catastrophe resources for everything from modeling to model intelligence to impact scores. It has been designed to help companies make better risk-informed decisions and categorized current products into six functional families, making it easier to convert complex risks into opportunities.
Learn more
Watch our GC Cat Studio video

GC Mosaic

GC Mosaic provides a centralized platform for insurance carriers to access market and competitor information, evaluate new opportunities and determine how to achieve profitable growth. Our suite of interactive dashboards enables users to harness an extensive range of data sources for conducting industry research and performing multifaceted analyses.
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Watch our GC Mosaic video
Capital

The Next Era of Risk: For Capital in Volatile Times

Catastrophe

The Next Era of Risk: For When Catastrophe Strikes

Digital

The Next Era of Risk: For a Digital World

Monte Carlo 2025

Press Release: Reinsurance market conditions put cedents in strong position

Read here

Insights

Global Specialties 2025 Market Update

The Guy Carpenter Global Specialties 2025 Market Update provides a unique data-driven perspective on developments across a variety of sectors, including Non-Marine; Terrorism; Marine & Energy; Construction & Engineering; Aviation & Aerospace; Trade Credit, Bond & Political Risk; Cyber and Lloyd’s Capital. Each section outlines the current market state-of-play, how these dynamics are driving changes in buying strategies and what factors are likely to influence placement negotiations in the run-up to the January 1, 2026 renewals.

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Dean Klisura

“The reinsurance market is strong, seen in record levels of capital and reinsurer returns. Reinsurers’ appetite for growth creates an opportunity for innovative solutions that help cedents manage in a volatile world and protect against the increasingly complex range of risks they face.”

Dean Klisura, President & CEO of Guy Carpenter

Read the latest Insights from Guy Carpenter

Here

July 2025 Renewals

Global volatility persists but elevated insured loss activity seen in the first quarter moderated Despite global economic volatility and insured loss activity nearing $70 billion through the first half of 2025, reinsurance renewal trends seen at January 1 continued including:

  • Strong reinsurer balance sheets driving appetite for growth
  • Excess property capacity and moderating pricing 
  • Disciplined casualty underwriting
  • Reinsurer focus on holistic client relationships to grow their portfolios

To Read Full Press Release >>

January 2025 Renewals

At January 1, non-loss-impacted property catastrophe renewals saw notable risk-adjusted reinsurance rate reductions of 5% to 15%. However, there was a range of pricing outcomes that varied by region, attachment point and reinsurer views of price adequacy.

Property catastrophe renewals were consistently oversubscribed as reinsurer appetite increased by 10% to 15%, while we estimate demand only increased by approximately 5%. Rate reductions and additional capacity reflect strong reinsurer appetite driven by:

  • Another profitable year in 2024, featuring projected average reinsurer returns on equity of 17.3%,
  • Total dedicated reinsurance capital increasing by 6.9% to $607 billion,
  • Continued reinsurer discipline around property catastrophe program attachment points and pricing, and
  • Meaningful cedent actions to improve underlying portfolio profitability (rate improvement, limit management and disciplined risk selection).

To Read Full Press Release >>

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 >>

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