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Renewal Resource Center

The road to renewals: Baden Baden

Insights from Baden Baden

2027 Renewal Outlook

Aligning growing reinsurance capital with the evolving risk landscape

The 2027 renewal season will be a defining moment for the global reinsurance market. Abundant capital, coupled with the evolving macro risk environment, creates opportunity for reinsurers who are willing to innovate and expand their product offering.

Cedents will benefit from exceptional choice: a moment to deepen partnerships and optimize programs with a blend of traditional and alternative capital sources.

Now united under one global Marsh brand, we bring greater value and perspective to clients than ever before. Driving impact through insight, supporting our clients to thrive and grow.

 

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Global Specialties 2026 Market Update

Understanding our clients’ goals and delivering the insight, structure, and relationships across the market needed to achieve them

Marsh Re Global Specialties’ market-leading data and analytics, combined with the depth and experience of our specialist teams, give clients the clearest possible view of how to optimize their programs, broaden their coverage, and take full advantage of everything this market has to offer in this current part of the cycle and the next.

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Marsh Re marks a new chapter - Issues renewal outlook and global specialties report revealing opportunities to align growing reinsurance capital with evolving and new risks

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July 2026 Reinsurance Renewals

Traditional reinsurance market conditions persist, as alternative capital offers diversification opportunity for cedents

Key takeaways from the report include:

  • Competitive reinsurance market continues, with global property catastrophe ROL index reducing to -16% at mid-year renewals.
  • Casualty mid-year renewals continue to demonstrate nuanced outcomes, reflecting adequate capacity and differentiated pricing based on loss experience.
  • Alternative capital growth offers diversification opportunity for cedents, with increased utilization of catastrophe bonds and parametric in property lines, sidecars and legacy solutions in casualty.
  • Guy Carpenter has responded to ongoing geopolitical conflict through development of new specialty quota share products and a consortium, offering meaningful capacity where it was previously unavailable.
  • Total loss reserve for 2024 Baltimore Bridge collapse increased to USD 2.8 billion from USD 1.5 billion; this will largely be borne by the marine reinsurance and retrocession markets, impacting 2027 renewals.
  • Despite an expected quieter 2026 Atlantic hurricane season outlook driven by strong El Niño conditions, a weaker or late arriving El Niño will significantly impact suppression of Atlantic storms.

 

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View the press release

Dean Klisura

“In the current market conditions, cedents have secured competitive pricing and terms on their reinsurance programs, but many are also exploring alternative options, such as parametric solutions and sidecars, as ways to complement their traditional protection. We expect this trend to continue as we move through the remainder of the year.”

Dean Klisura, President & CEO of Guy Carpenter

June 2026 Florida Reinsurance Renewals

A Thriving Market Restoring Capital to Healthy Levels

We found that legal reforms, improved building resilience, and disciplined underwriting have combined to restore capital and confidence in the Florida market. That restoration is visible in the way insurers and reinsurers approached the June renewals — more capacity was available, terms improved, and pricing moved in line with the better loss outlook, which ultimately supports sustainable rate relief for policyholders.

Key themes from the report are:

  • Strong results by Florida carriers in 2025 set the stage for the June 2026 renewal season.
  • Reduced hurricane losses and legal reforms have improved the view of risk for the state.
  • There is increased demand for reinsurance and ILS capacity.
  • Forecasted El Niño conditions are leaning toward a below-average to near-normal 2026 Atlantic hurricane season.

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View the press release

April 1, 2026 Renewals

Reinsurance macro trends and market softening continues in Asia Pacific and India against backdrop of Middle East conflict

The global reinsurance market continues to experience softening, with notable price reductions observed in key April 1 renewal territories across Asia Pacific and India. 

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January 1, 2026 Renewals

Reinsurance buyers experience market softening as reinsurers grow capital following strong returns

Expanded reinsurance capacity available at January 1, 2026, resulted in accelerated softening of pricing across many lines.

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Access the press release

Additional insights

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