1 January remains an important renewal date for a number of reinsurance contracts across a variety  of classes and territories. The combination of recent loss experience, coupled with turmoil in investment markets and inflation meant that the reinsurance industry entered 2023 with less capital than was available for 2022. This meant price increases at renewal this year. For some classes this was as much as 50%; more difficult individual accounts increased by much more.

Many of the leading brokers produce reports on the 1 January renewal season. We will be speaking to the key underwriters over the next few weeks to get their take on how they were able to shape their books of business given the market conditions.  

Ahead of our own market report, here are links to some key broker reports.

Gallagher Re

Howden Re

Guy Carpenter