Global dedicated reinsurance capital climbing to $660 bn – Guy Carpenter
Guy Carpenter projects global reinsurance capital will rise 9% in 2025 to $660bn, led by alternative capital growth and strong investor demand
Reinsurance News
Active Re gains approval to operate as admitted reinsurer in Argentina
Barbados-based Active Capital Reinsurance receives authorisation to operate in Argentina, expanding its Latin America footprint with disciplined growth
Lockton Re launches LNAPS unit to back North American MGAs
Lockton Re opens a London-based North America portfolio solutions team, naming Henrietta Butcher to lead capacity sourcing for MGAs
Aon sees softer Jan. 1 reinsurance renewals as capital hits $760bn
Aon says record reinsurer capital and a calm 2025 hurricane season drove competitive January renewals, delivering double-digit rate cuts
Globe Life launches Bermuda reinsurer Globe Life Re for affiliate business
Globe Life forms and licenses Globe Life Re in Bermuda to assume affiliated quota share reinsurance under arm’s-length arrangements
AM Specialty’s Pinpoint UK secures Lloyd’s coverholder approval in London
AM Specialty’s Pinpoint UK gains Lloyd’s coverholder status, enabling delegated underwriting and direct access to the London Market
Meritage Re lifts 2026-1 cat bond to $250 mn for GeoVera
Meritage Re ups its Series 2026-1 cat bond to $250 mn, lowering price guidance as GeoVera and SafePort seek US storm cover
Lockton Re launches London unit for North American MGA capacity
Lockton Re creates a London-based North America portfolio solutions unit to place MGA capacity from Lloyd’s and global markets
Gallagher Re launches captives risk transfer team in facultative
Gallagher Re forms a captives risk transfer team within facultative, naming Martin Hughes and Joshua Cryer to lead tailored reinsurance solutions
Pinpoint UK gains Lloyd’s coverholder status in London Market
Pinpoint UK Solutions secures Lloyd’s approval as a coverholder, gaining delegated underwriting authority and direct access to the London Market
KBW sees 15-20% drop in property cat reinsurance rates at 2026 renewals
KBW analysts expect property catastrophe reinsurance rates to fall up to 20% at Jan. 2026 renewals as pricing discipline holds
Aon renews ACT insurance facility for 2026, adds facultative reinsurance
Aon Global has renewed its Aon Client Treaty insurance facility for 2026, adding facultative reinsurance alongside aviation and construction covers
Wildfire cat bonds draw ILS investors as modeling improves, issuance jumps
Investors move into wildfire-linked cat bonds as modeling improves, driving over $5 bn in issuance and pushing the market toward $60 bn in 2025
Howard Hughes to buy Vantage in $2.1 bn specialty reinsurance deal
Howard Hughes Holdings agrees to acquire Vantage Group for about $2.1 bn, backed by Pershing Square, as it pushes toward a diversified holding model
Munich Re and KfW launch state-backed cover for geothermal drilling
Munich Re and KfW introduce a state-backed insurance scheme to reduce geothermal drilling risk and unlock private investment in Germany’s clean heat sector
AIG launches Lloyd’s SPV Syndicate 2479 with Blackstone, Amwins
AIG sets up Lloyd’s Syndicate 2479 with Blackstone and Amwins, using London Bridge 2 and Palantir AI to support a $300 mn, third-party-backed portfolio
Farmers Insurance closes $400 mn cat bond to bolster US risk cover
Farmers Insurance Group completes a $400 mn catastrophe bond via Topanga Re, adding multi-year, indemnity-based protection across major US perils
German insurers propose Elementar Re catastrophe backstop scheme
Germany’s insurers unveil Elementar Re, a government-backed reinsurance backstop aimed at keeping high-risk homes insurable as climate losses rise
Fitch sets neutral 2026 outlook for global insurance sector
Fitch Ratings assigns a neutral 2026 outlook for global insurance, citing resilience overall but weaker margins in reinsurance, London Market, and US Health
Munich Re targets €6.3 bn profit in 2026 under Ambition 2030
Munich Re expects ROE above 18%, EPS growth over 8%, and €6.3 bn IFRS net profit in 2026 as part of its Ambition 2030 plan
Moody’s expects 15% drop in property cat reinsurance pricing in 2026
Moody’s Ratings sees property catastrophe reinsurance pricing falling about 15% as capital stays ample and buyers gain negotiating power in 2026
SAR insurtech ICEYE adds flood intelligence to Munich Re risk platform
ICEYE partners with Munich Re’s Risk Management Partners to bring SAR-based flood data and early warning tools to the Location Risk Intelligence platform
Atradius wins approval to launch Lloyd’s credit Syndicate 1864 in 2026
Atradius secures final regulatory approval for Lloyd’s Syndicate 1864, set to underwrite trade credit risks from January 2026
Allianz teams up with Oaktree to launch Lloyd’s reinsurance Syndicate 1890
Allianz partners with Oaktree to launch Lloyd’s Syndicate 1890, securing multi-year AA-rated capacity and tapping capital markets for reinsurance risk
Fintech Acrisure to buy tech-first MGA Vave from Canopius
Acrisure agreed to acquire underwriting MGA Vave from Canopius, adding a high-volume, API-driven platform focused on catastrophe-exposed E&S risks
Swiss Re, RIQ team up on AI-driven reinsurance platform in UAE
Swiss Re and Abu Dhabi-based RIQ sign an MoU to develop AI-native reinsurance capacity and risk solutions across the UAE market
Swiss Re sets $4.5 bn 2026 profit target and sharpens AI-driven strategy
Swiss Re outlines a $4.5bn 2026 target, lifts L&H Re goals, deepens AI use, and plans a $500mn annual buyback alongside steady dividend growth
AM Best warn rising protectionism reshapes global reinsurance
AM Best’s Angela Yeo and Mahesh Mistry say local reinsurance rules spread into developed markets, straining risk distribution and raising costs
Lloyd’s clears Ariel Re to launch and run new Syndicate 2006
Lloyd’s approves Ariel Re’s Syndicate 2006, expanding its specialty and property reinsurance platform ahead of the 2026 account year
K2 Rubicon launched $50 mn Sentinel facility for Ukraine marine war-on-land cover
K2 Rubicon unveils Sentinel, a $50 mn Lloyd’s-backed war-on-land facility for Ukraine, expanding cargo capacity and supporting reconstruction efforts
Africa Specialty Risks launches Lloyd’s Syndicate 2454 to expand underwriting in South Africa
Africa Specialty Risks opens Lloyd’s Syndicate 2454 to write local South African risks, deepen specialty capacity and expand on-the-ground underwriting
Pine Walk launches Carnovis MGA to expand structured reinsurance reach
Carnovis Specialty debuts next month offering structured reinsurance, XOL and quota-share solutions with a global focus spanning the US, UK and beyond
Decentralised reinsurance protocol Re unlocks $134 mn in on-chain reinsurance
Re authorises $134 mn in fully collateralised reinsurance across new and renewed programs, signalling deeper traction for its blockchain-backed model
Munich Re warns climate losses strain major economies as risks escalate
Munich Re finds rising weather-driven losses across major economies, with the US, Germany and India showing sharp jumps in climate-linked financial strain.
Radian secures $373 mn XOL reinsurance deal to scale capital protection
Radian Guaranty agrees to $373 mn excess of loss reinsurance on legacy books, extending its capital management and risk-mitigation strategy
MAPFRE RE issues €125 mn cat bond to boost European windstorm cover
MAPFRE RE prices a €125 mn catastrophe bond for European wind risk, expanding its capital markets strategy as climate-driven exposures rise
European reinsurers pivot toward steadier earnings – J.P. Morgan
J.P. Morgan sees European reinsurers using mild catastrophe losses to build reserves, temper upside, and push the sector toward more stable results
Lloyd’s Europe to introduce Reinsurance Collateral Deposit from 2026
Lloyd’s Europe plans to roll out a Reinsurance Collateral Deposit starting Jan. 1, 2026 for the 2026 Year of Account and beyond
Atrium expands teams with motor, aviation, and credit risk leadership hires
Atrium promotes Gabrielle Griffith, adds aviation underwriter Mark Connellan, and launches a new credit and political risk team led by Richard Lamb
Atrium wins Lloyd’s nod to launch property cat and climate Syndicate 2026
Atrium secures backing from trade and institutional capital as Lloyd’s clears new property cat and climate focused Syndicate 2026 for a 2026 launch
Lloyd’s probes claims of historic policy breaches as new details surface
Lloyd’s launches a formal investigation into alleged historic policy breaches after new information emerges during a governance review
SageSure earns Lloyd’s coverholder status and launches new CAT program
SageSure becomes a Lloyd’s coverholder and DCA, expanding CAT-focused homeowners capacity through Trium Syndicate 1322 across five U.S. states
L&G announces new senior appointments further strengthening its leadership team
L&G names Donna Cowell head of reinsurance for UK protection, adding seasoned actuarial expertise and strengthening its protection strategy
Australia’s Cyclone Reinsurance Pool lowers premiums but risk mitigation still lags
Australia’s cyclone pool eases premiums in high risk regions, yet insurers push for stronger resilience, data alignment and mitigation investment
RenaissanceRe lifts third party capital to $8.5 bn as investor flows surge
RenaissanceRe pushes third party capital to record $8.54 bn, driving JV growth, stronger ILS demand, and fresh balance sheet expansion across its major platforms
Private credit reshapes reinsurance as casualty risks and MGA bets surge
Private credit floods into reinsurance, driving riskier casualty moves and rapid MGA expansion as executives warn of underwriting discipline slipping
Dale and K2 secure Lloyd’s approval for new SPA Syndicate 1954 launch
Dale and K2 win Lloyd’s approval for SPA 1954, aiming for £80mn GWP in 2026 with a portfolio across Property, Specialty and Casualty
Marine war risk insurance market shifts as global tensions spike and reinsurers tighten
Willis Re says modern marine war risk is being reshaped by gray zone attacks, cyber disruption, treaty limits and volatility across global shipping lanes
RIQ and Masdar partner to build AI driven reinsurance for clean energy
RIQ and Masdar sign a three year MoU to co develop AI powered reinsurance capacity for global clean energy risks and capital efficient project growth
Volt Underwriting enters ports and terminals market with $15 mn capacity
Volt Underwriting launches a $15mn ports and terminals line backed by Tokio Marine Kiln, expanding its global energy focused MGA platform
Swiss Re reports a net income of $4 bn for the 9M 2025
Swiss Re lifts Q3 net income to $1.43bn, accelerates L/H fixes, and stays bullish on 2025 despite noisy portfolios and tougher pricing
Insurtech Policybazaar launches reinsurance across Sri Lanka, Qatar, Oman, UAE
Policybazaar expands into Sri Lanka, Qatar, Oman, and UAE with a tech-led reinsurance model built to speed placements and modernize emerging markets
Lloyd’s announces 2025 Council election ballot for working members
Lloyd’s launches a ballot for two working member seats on its Council after receiving three valid nominations for the 2025–2028 term starting February 1
Munich Re posts strong Q3 results, confirms €6 bn 2025 full-year target
Munich Re reports €1.997 bn Q3 profit and €5.176 bn nine-month result, reaffirming €6 bn 2025 target as P&C delivers record margins and low loss ratios
Berkshire Hathaway Q3 underwriting profit triples to $3.16 bn
Berkshire Hathaway’s Q3 pretax underwriting earnings tripled to $3.16 bn, led by reinsurance and primary gains despite weaker Geico results
Willis appointed of three senior hires to its Direct and Facultative team in the UK
Willis, a WTW business, announced the appointment of three senior hires to its Direct and Facultative team in Great Britain
Fidelis Partnership launches Lloyd’s Syndicate 2126 with $300 mn capacity
Fidelis Partnership and Blackstone launch Lloyd’s Syndicate 2126 with $300 mn capacity, boosting TFP’s underwriting growth and London market presence
Pacific Life Re enters Japan with first asset-intensive reinsurance deals
Pacific Life Re completes its first asset-intensive flow reinsurance transactions in Japan, expanding its footprint and deepening ties with local life insurers
Munich Re to close venture arm, shift investments under MEAG unit
Munich Re will close its venture capital arm and move startup investments to asset manager MEAG as it centralizes innovation within core business units
Starr to acquire IQUW Group to expand underwriting reach at Lloyd’s
Starr agrees to acquire IQUW Group, boosting its position at Lloyd’s and expanding underwriting capacity across specialty, property, and motor markets
Aerospace and defense M&A reached 532 deals in 2025, as business aviation attracts private equity, family offices, and growth investors
Discover how a secondary reinsurance market could improve capital efficiency, lower WACC, boost underwriting flexibility and support more efficient pricing
Global insurance M&A stabilised, as insurers and brokers took a more strategic approach to acquisitions amid falling interest rates and a realignment of strategic priorities
Global reinsurance pricing fell more than expected at Jan. 1, 2026 renewals, with abundant capital, weak catastrophe support, and easing terms