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The carrier acquired the motor insurer in September last year. -
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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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 finance committee discussed shifting market dynamics as tort reform takes effect.
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Andrew Ealey joined Canopius in 2010 as a property treaty underwriter.
