It’s only right that we focus the first OneAdvent news roundUP of 2025 on 1/1! So, we’ve hand-picked 4 in-depth reports from some of the world’s biggest brokers to give you the best insight into the Jan 1 renewals and what is set to face the industry in the next 12 months.
Reinsurers’ desire to grow created opportunities for buyers at Jan 1 renewals, says Aon (Source: Reinsurance News)
Ahead of Aon’s report release next week, the broker notes an expansion of available capital and “greater flexibility” from reinsurers led to most renewals resulting in “meaningful over-subscriptions”.
Howden’s 1.1.25 market report (Source: Howden)
According to Howden “reinsurance renewals at 1 January 2025 saw rate reductions overall, reflecting a desire for growth on the part of reinsurers”. Furthermore, the broker’s data shows that “global commercial insurance pricing across all classes came in at a weighted average of -0.9%…the first negative reading since 2017”.
Gallagher Re 1st View: Differentiation Rewarded (Source: Gallagher Re)
CEO, Tom Wakefield, writes that “this was a 1.1. where reinsurance supply generally exceeded demand, buyers sought a measure of relief and sellers provided it”. Improved operating and performance ratios, as well as aggregate balance sheet metrics, have contributed to higher reinsurer confidence levels.
Guy Carpenter on 1/1: ‘strong reinsurer appetite, excess prop cat capacity’ (Source: Global Reinsurance)
Non-loss-impacted property catastrophe renewals fell 5-15% risk-adjusted at 1/1, the broker said, but casualty reinsurance buyers experienced ”varying outcomes”.
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