Reinsurance buyers generally found ample capacity during the January renewals as well as increased reinsurer appetite, which led to risk-adjusted rate reductions and improved terms and conditions for clients that could demonstrate differentiated strategies, reinsurance brokers Aon, Gallagher Re and Howden confirm in their renewal reports.
“Overall, capacity was more than adequate for the majority of lines and regions, leading to improved reinsurance pricing and terms for most placements,” according to Aon in its renewal report titled “Reinsurance Market Dynamics – January 2025 Renewal.”
“January 1 renewal activity saw differentiated outcomes for clients. Reinsurers have been able to refine solutions as a result of more effective use of detailed cedent data, a clearer understanding of strategy, evolving views of risk, and application of external data sources,” said Gallagher Re in its report titled “1st View: Differentiation Rewarded.”
“Renewal outcomes are not one size fits all but specific to class of business, geography, performance, strategy, and scale,” Gallagher Re continued.
There were wide ranges of outcomes for ceding companies during the renewals, which was helpful to buyers with “decent st