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The agency cited falling property rates and US casualty challenges. -
The CEO said the industry’s penetration outside its traditional heartlands remains “woeful”.
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What is the strategic thinking behind The Fidelis Partnership’s unique business model?
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Reinsurers are pushing for cat signings and hoping the new pricing floor will hold.
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The carrier acquired the motor insurer in September last year.
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Reinsurers’ average RoE was 16% as of September 2025.
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Tom Wakefield says there is scope for opportunistic reinsurance purchases in 2026.
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The renewal was characterised by abundant capacity and strong competition.
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The market was unphased by January’s record wildfire loss in Los Angeles.
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Non-loss impacted major property program rates were down by up to 20% at the renewal period.
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The pricing battle has been played out but the extent of new demand will only show up in 2026.
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The influx of capital, combined with a quiet wind season, led to favorable conditions for cedants during 1.1 renewals.
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Price has become a key differentiator in marine and energy.
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Cedants pursued property renewals “aggressively” amid excess reinsurer capacity.
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Market participants on programs/MGU business in particular feel there's more capacity than 12 months ago.
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Cedants are opting to bank double-digit savings as reinsurers fight for market share.
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The US insurer squeezed its retention in a renewal where cat treaty retentions are widely holding steady.
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The facility provides solvency support via a fresh equity injection under various scenarios.
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The finance committee discussed shifting market dynamics as tort reform takes effect.
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From 2026, the facility will also offer longer maximum construction periods.
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The market is “extremely competitive”, with several launces from MGAs and syndicates expected.
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Expectations that reductions would cap out at low double digits are fading due to capacity oversupply.
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Several Lloyd’s syndicates are also now providing cover for the federal insurer.
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Despite 2025 losses, carriers have not secured desired rate increases.
