As the insurance industry prepares for the Rendez-Vous de Septembre in Monte Carlo, reinsurers are reporting strong earnings, expanding capital and plentiful capacity, putting cedents in a strong position as they head towards 2026 renewals season.
Dedicated reinsurance capital is projected to reach the equivalent of around £520bn by the end of 2025, according to Guy Carpenter. Supply is outpacing demand, increasing competition and encouraging reinsurers to deploy excess capital. Profitability has remained solid even against heavy catastrophe losses in recent years.
Dean Klisura, president and chief executive at Guy Carpenter, said: “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.”
The outlook for January 2026 renewals will depend on the rest of this year’s catastrophe activity and wider political and economic factors.
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