April 1, 2026 Renewals

• The global reinsurance market continues to experience softening, with notable price reductions observed in key April 1 renewal territories across Asia Pacific and India. 
• Specialty lines renewals in March and April have been shaped by the evolving conflict in the Persian Gulf, with a strong emphasis on maintaining coverage for clients exposed or at risk, according to Guy Carpenter, a Marsh business and leading global risk and reinsurance specialist.
• As the activity in the Middle East continues, treaty reinsurers have acted swiftly to assess potential exposures. Given the scale of the conflict, potential losses across political violence, marine, and aviation lines could be significant. Continuity of cover remains paramount, with no prejudice against clients renewing compared to January 1, and no acceptance of conflict exclusionary language in contractual terms.
• In terms of renewal outcomes, the report focuses on India and Asia Pacific as April 1 is significant for both regions, with approximately USD 1 billion of Asia Pacific reinsurance premium and 100% of reinsurance treaties in India up for renewal. Both regions have seen continued softening, reflecting a broader global trend in the reinsurance market.

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July 2025 Renewals

Global volatility persists but elevated insured loss activity seen in the first quarter moderated Despite global economic volatility and insured loss activity nearing $70 billion through the first half of 2025, reinsurance renewal trends seen at January 1 continued including:

• Strong reinsurer balance sheets driving appetite for growth
• Excess property capacity and moderating pricing 
• Disciplined casualty underwriting
• Reinsurer focus on holistic client relationships to grow their portfolios

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