Howden has reported a 4.5% increase in its January renewal premiums, primarily driven by higher volumes of business.
The surge in premium growth was fueled by an increased demand for reinsurance, particularly within the property sector, where expanding exposure led to higher requirements. Despite a slight dip in pricing for natural catastrophe coverage, casualty pricing either held steady or rose due to concerns over inflation and adjustments to loss models.
Reinsurers maintained stable renewal rates at 1.1, adopting a more selective and cautious approach to underwriting.
Munich Re emphasized its focus on portfolio management, balancing client relationships with selective growth. Despite market challenges, terms and conditions remained favorable, bolstered by ample retrocession capacity that contributed to dynamic purchasing behavior.
According to Barclays, there is currently no significant indication of capacity withdrawal. The reinsurance market is expected to remain oversupplied through the April, June, and July renewal periods and into 2026.
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