Pricing stability expected after ‘rational’ July renewal aligns with 1.1: Gallagher Re
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Pricing stability expected after ‘rational’ July renewal aligns with 1.1: Gallagher Re

Fiona Robertson
03 July 2023
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Reinsurers secured significant rate increases to bring July-renewing deals in line with higher 2023 benchmarks, but it was a more “orderly and rational” renewal as some reinsurers began “leaning into the hardening market”, Gallagher Re said.

New reinsurer capital from the ILS and traditional markets, combined with cedants moderating their demand through higher retentions, contributed to the smoother experience.

Gallagher

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