SiriusPoint recently posted its 2025 results, including full-year net income available to common shareholders of $444 million and fourth-quarter net income of $240 million.

In an interview with Reinsurance News, Egan emphasised that while the numbers are important, what matters more is whether the performance is repeatable and whether the quality of earnings is improving.

“We’ve spent the last few years reshaping the business to be simpler, more focused and less volatile. When you do that properly, you should see it in the underlying underwriting metrics and in consistency across quarters, not just in a single good period. I’m pleased with 2025, but I’m more interested in what it says about the durability of the model,” he said.

Egan outlined where he sees the most compelling growth opportunities, highlighting that SiriusPoint is selective about where it grows to ensure that expansion comes with the right return and risk profile.

He stated, “One thing I’d challenge is the habit of describing the market as if it’s one single cycle moving in lockstep. This is not the case. There are pockets that are softening, and there are pockets that are holding up well – even tightening – and the skill is moving capital to where you’re properly paid.

“For us, the most compelling opportunities continue to be in areas that are less correlated with traditional P&C pricing cycles, and that’s part of the reason we’ve leaned into Accident & Health and Surety. We’ve also been clear that we’ll be opportunistic in reinsurance when the rate and structure justify the volatility. But the anchor point is always underwriting performance first.”

Egan explained that Accident & Health brings balance to the portfolio by delivering consistent earnings and helping to dampen volatility elsewhere.

He said, “That matters because it allows us to manage the wider portfolio more intelligently. When you have a meaningful proportion of earnings coming from a line that is less correlated with the broader P&C cycle, you can afford to be more disciplined in other areas. It gives you flexibility, and it gives you the confidence to walk away from business that isn’t priced properly – which is exactly what you need when market conditions are mixed.

“It’s also not just an underwriting story. Alongside the core Accident & Health underwriting business, IMG, SiriusPoint’s wholly owned subsidiary, adds distribution, services and fee income, which strengthens the overall earnings profile. Taken together, that combination is why A&H remains such an important part of how we think about the business today.”

Egan also discussed the continued expansion of SiriusPoint’s wholly owned subsidiary, International Medical Group (IMG), a leader in global insurance benefits and assistance services. He noted that the company is building a connected Accident & Health and travel platform, where underwriting sits alongside distribution and services, rather than operating as a standalone book of business.

He continued, “The acquisitions are a good example of that. We recently announced IMG’s acquisition of Assist America, which brings global travel assistance capabilities and generates around $20m in annual assistance revenues. We also announced IMG’s acquisition of World Nomads, a global travel insurance and lifestyle brand with approximately $40m of gross written premium.

“What we like is that these are strategic adjacencies: they broaden distribution, expand services, and strengthen the customer proposition. We’ve said publicly both acquisitions are expected to be accretive to return on equity and earnings per share.

“World Nomads also expands IMG’s distribution footprint, including into Australia, Brazil, and Canada, and the combined platform is expected to give IMG a presence across 34 countries with around-the-clock service coverage. Over time, building that kind of connected platform creates options – and options matter in a market that’s constantly changing.”

Egan also spoke about SiriusPoint’s MGA strategy, noting that it works when the MGA model is built on alignment and long-term partnership rather than chasing volume.

“Our approach is selective, and we’re comfortable being patient,” he said. “In practical terms, that means being disciplined about who we partner with, how quickly we scale, and making sure incentives are aligned around underwriting quality and transparency. It also means recognising that the market will present opportunities, but you don’t have to jump on every one.

“That links to capital as well. We’ve announced actions that reflect confidence in the balance sheet, including the intention to repurchase $100m of common shares over the next 12 months. We also announced the redemption of all outstanding Series B preference shares on February 26, 2026, as part of simplifying and optimising the capital structure.”

In addition, Egan commented on Fitch Ratings’ recent upgrade of SiriusPoint and its operating subsidiaries’ ratings to ‘A’ (Strong) from ‘A-’, viewing it as an independent validation of the work that’s gone into reshaping the business over several years.

He stated, “Fitch was very clear that the upgrade reflects improved earnings quality, a reduced risk profile, and more consistent underwriting performance, and that’s exactly where our focus has been.

“What matters to me is that the upgrade recognises progress across the fundamentals: underwriting profitability, capital strength, reserve development, and lower volatility following the strategic repositioning of the portfolio. These are structural changes, not shortterm fixes.

“For us, the Fitch upgrade is a useful marker of how far the business has come – and a reminder of the importance of continuing to execute with the same discipline as market conditions evolve,” Egan concluded.

The post SiriusPoint leaning hard into A&H and its MGA ecosystem: CEO Egan appeared first on ReinsuranceNe.ws.

Flandro said: “We have to be much more multifaceted, I think, as a sector. Yes, of course, treaty placements, and working together with markets, with investors and with buyers to find the best solutions as the market pricing environment changes, that’s clearly crucial in treaty. And then utilising facultative reinsurance in the right way, at the right time, including D&F, including retro, all of those things are absolutely crucial.”

A key driver of this shift is how buyers now view their risk transfer. Flandro noted that reinsurance is increasingly treated not just as an expense, but as a strategic financial tool like equity or debt.

“But brokers also need to bring strategic advisory to the table, whether that’s advice around rating cap, reg cap, valuation, ALM, ERM, captives. All of those discussions that brokers are asked to have on a daily basis, we have to be adept at that, and there has to be a bridge into capital markets. Because reinsurance is a form of contingent capital, like equity and debt, and any intelligent buyer at scale will be considering reinsurance in that context,” Flandro explained.

Additionally, managing general agents (MGAs) and specialised facilities have also become increasingly important for clients, becoming indispensable, especially as the market pricing environment remains fluid.

“It’s treaty, fac, strategic advisory, capital markets, and finally, MGAs. MGAs and facilities are an increasingly important part of the market for our clients, especially as the market pricing environment changes. So, just at a minimum, brokers have to bring all five of those things to the table, in addition to all the other consultancies that we undertake. But that’s an important part of the story, more so than it was 10 years ago for sure,” the executive concluded.

Watch the full video interview to hear Flandro discuss brokers and other trends transforming the re/insurance market.

The post Reinsurance brokers have to be more multifaceted, says Howden Re’s Flandro appeared first on ReinsuranceNe.ws.

In an interview with Reinsurance News, Schwebach, Head of Property North America at reinsurance broker Gallager Re, discussed the Florida market and the outlook for the mid-year renewals, against the backdrop of the reforms in 2022 and 2023, which have stabilised the state’s property market.

To start, Schwebach gave his thoughts on how he expects the general trends in Florida to play out this year.

“The way I describe it is, we went into 2025 with cautious optimism that the legislative reforms were proving out. There was really solid data that was starting to come out of specifically Milton. Helene was more of a flood loss within the state of Florida, but Milton was showing signs of acting like a normal hurricane. Losses were coming in, as expected. You weren’t getting the historical first notice of loss that also had a lawsuit attached to it, that had become common prior to reforms,” he said.

“I would say as we enter 2026, the cautious portion of the cautious optimism is starting to go away, and I would say everybody in the state is actively looking to grow right now into what they view as a very, very positive, stable insurance environment,” added Schwebach.

This positivity, according to Schwebach, is also rolling over to reinsurers who are now looking at the state with renewed interest, pleased that the uncertainty surrounding lawsuits and everything that goes along with that has been removed, ultimately making reinsurers more comfortable to write Florida business.

“While we see all of the carriers actively looking to grow within the state, some (reinsurers) may say they would like to keep relatively stable in the state and they have enough, but I think that most would be happy to grow within the state mid-year this year,” said Schwebach.

Moving forward, Schwebach feels that the fact reinsurers have adjusted their risk assessment models in Florida since the reforms were put into place, is key.

“This is where we could get a bifurcated view depending on whether you talk to a company, a broker, or a reinsurer, on what the overall rate impact is in any given year, because behind the scenes reinsurers are messaging and telling us they’re doing exactly that. There were loads that they were forced to include within their pricing for litigation, for social inflation, for all of the buzz words that we’ve heard, and they’re very actively reviewing those assumptions right now, and in many instances, starting to reduce them.

“That’s going to, just on its own, have a very positive effect. And that’s why I think that you’ll see a bifurcation in what reinsurers view the difference in rate being in any given year. I think we saw a little bit of this last year, but I think we’ll see more of it this year. Last year, most brokers were reporting something like a 15% decrease in rates. I think it’s very possible that a reinsurer could look at that and say, actually, when we strip out some of these loads, we may see rates down five-ish percent, and that feels pretty positive,” he said.

Adding: “So, I expect we’re going to continue to see that trend in 2026 where reinsurers are reassessing the loads that they’re putting into the Florida market, and to the extent they can get back to just underwriting hurricane risk, which they’re very good at, I think they’re very happy to do that. So, I think all of that will lead to rate reductions in the state in 2026.”

Prior to the reforms, reinsurers pulled back from the Florida property market to avoid the rising costs tied to litigation post-event, but with the 2026 mid-year renewals fast approaching, Schwebach notes that “this is the most proactive in years” that he’s seen reinsurers in engaging with Florida carriers.

“For example, we had reinsurers reaching out in July of last year with ideas and proposals for carriers to think about for 6.1 of this year. They are absolutely thinking forward and trying to partner with the people that they’ve been partnering with for the past several years, and look for growth opportunities.

“It’s actually a lot of fun for clients to be on their front foot and starting to explore some creative ways to think about reinsurance. And for brokers, we love it, because the fun part of our job is in the creativity and helping people grow. And reinsurers, coming to brokers and cedants with ideas, is a really fun place to be,” he said.

As Gallagher Re’s January renewal report highlights, property and notably property catastrophe reinsurance rates softened further at the 1.1 2026 renewals, and as supply outpaced demand, Schwebach expects reinsurers that failed to reach their growth targets at January 1 to look for growth at the mid-year.

“I think that’s going to lead to more supply. I think it’s going to lead to more appetite for reinsurers for the Florida business and write mid-year renewals in general. So, that’s all a very positive thing. Reinsurers aren’t going to throw away any of their underwriting guidelines and not worry about pricing as they think through hitting revenue goals, but it is going to be a factor that they’re going to need to think about,” said Schwebach.

To end, Schwebach discussed where he sees the main growth opportunities for re/insurers in Florida.

“I think that there’s opportunities certainly below the fund. For those that had moved away from writing underneath the FHCF, we did see some markets coming back to that market last year. I think we will see an acceleration of that in 2026, a lot of that again has to do with the certainty around the results that they’re seeing. If you go back in time, it wasn’t just hurricanes, but SCS events that could have a very negative impact fairly high into a reinsurance program where reinsurers were not expecting that. SCS events were largely driven by litigation historically within the state, the fact that those have gone away, it’s essentially become a non-issue for both carriers and reinsurers that are providing that coverage at the bottom-end of the curves. And I think that will give a lot of them the certainty to move down in programs,” he said.

“The other thing which reinsurers are messaging is a willingness to look at structural creativity. Whether that’s adding some dropping component, providing some aggregate coverage, I think that there is a view that the ILS market is certainly willing to consider those types of structures right now, and the traditional market will need to follow suit in order to not lose ground,” concluded Schwebach.

The post Reinsurers show strongest engagement with Florida carriers in years: Schwebach, Gallagher Re appeared first on ReinsuranceNe.ws.

In a recent video interview, Reinsurance News spoke with Flandro, who said that, given the current economy, several areas are expected to outpace broader P&C growth, including cyber, renewables and, in particular, data centres.

He added, “Furthermore, we know empirically from the report that P&C premium growth outpaces GDP growth, or at least it has over the last 10 years. And so, if we have a change in GDP growth pursuant to this changing global trading environment, I think that could portend good things for P&C insurance demand, even in a relatively softening pricing cycle.”

Flandro explained that the January 1st, 2026, reinsurance renewals showed a shift in the supply curve, while the demand side stayed the same.

“It’ll be really interesting, when you’re mentioning cyber, renewables, data centers, all these things, what happens to demand. And we’ll be watching that very closely,” he said.

During the interview, Flandro also spoke about macroeconomic and geopolitical trends and how these are influencing risk pricing.

He said the environment has fundamentally shifted since 2022, moving away from a long period of low inflation and depressed interest rates toward higher rates, higher yields, and elevated asset prices, which has implications on re/insurers in a number of ways.

“One of them is on the asset side of the balance sheet with running yields. But another one is very important, and it’s on the pricing and underwriting side of the balance sheet,” said Flandro.

He noted that pricing across several lines has passed its peak, including property catastrophe reinsurance, specialty lines, and cyber, at least for the moment. The focus has shifted to how far rates may fall and where they are likely to stabilise.

“Now, we did say in the report that if current conditions persist, we expect pricing trends to consist of but the real thing that people are trying to think about right now is what happens one year, three years and five years out, so they can plan, and it looks to us decidedly like the world has become a lot more risky,” said Flandro.

Watch the full video interview to hear Flandro discuss these topics and other trends transforming the re/insurance market.

The post Interesting to see what happens to demand amid surge in non-traditional lines: Flandro, Howden Re appeared first on ReinsuranceNe.ws.

Reinsurance News recently spoke with Flandro, Managing Director, Head of Industry Analysis and Strategic Advisory at Howden Re, for our latest video interview, now available to watch in full, just weeks after the reinsurance broker released its comprehensive January 1st, 2026, renewal report.

During the interview, Flandro discussed the opportunities and risks that could emerge from what Howden Re describes as a period of re-balancing, highlighting the important focus on geopolitics and macroeconomics as these trends are a big part of what’s happening in the commercial insurance and reinsurance market.

“So, it’s really appropriate, because you don’t want to look at the insurance and reinsurance sectors in a vacuum right now. You want that macro fundamental view, because that may be actually what drives supply and demand going forward,” he said.

Flandro also dived into the growth outlook for segments beyond traditional lines such as cyber, renewables, and data centres, saying that it will be interesting to see what happens to demand for coverage as these areas grow in prominence.

We also discussed the alternative, or third-party capital space on the back of another record breaking year for catastrophe bond issuance in 2025, and the foray of the insurance-linked securities (ILS) space into areas like casualty.

As explored in Howden Re’s re-balancing renewal report, competition has increased in the reinsurance segment as supply outpaced demand at 1.1, and with an abundance of capacity, Flandro emphasised the need for brokers to be multifaceted.

“So, it’s treaty, fac, strategic advisory, capital markets, and finally, MGAs… So, just at a minimum, brokers have to bring all five of those things to the table, in addition to all of the other consultancies that we undertake. But that’s an important part of the story, more so than it was 10 years ago for sure,” he said.

To hear more from Flandro on these topics and other trends currently reshaping the re/insurance market, watch the full video interview, which is embedded below.

The post Plenty of opportunity for underwriters to achieve profitable growth: Flandro, Howden Re appeared first on ReinsuranceNe.ws.

In a New Year discussion with Reinsurance News, Russignan, Global Head of the Capgemini Research Institute for Financial Services, outlined the key challenges and opportunities shaping the re/insurance market, shared his outlook for 2026, and discussed how the industry is preparing for the next phase of the cycle.

“The re/insurance market is facing compounding pressures in 2026, but pressure creates clarity. Risk patterns are shifting, technology capabilities are maturing, and the gap between those who execute and those who experiment is widening,” Russignan said.

According to the executive, risk is becoming increasingly clustered, and not just in physical terms.

Citing his firm’s World Property and Casualty Insurance Report 2025, Russignan noted that nearly 70% of the global population is expected to live in urban centres by 2050, concentrating people, wealth, and infrastructure.

“That amplifies exposure to catastrophic events, making risk pools denser and more volatile. But there’s a second concentration risk that few are talking about: digital infrastructure. There are a handful of generative AI providers today powering billions of business processes and creating a new systemic risk profile unlike anything we’ve seen before,” Russignan observed.

He continued, “This brings us to AI – the double-edged sword. Our data shows that 70% of insurers are planning AI agent deployments at scale, starting with customer service, followed by underwriting and claims.

“But here’s the trap: most AI pilots stay pilots. They remain siloed, creating technical debt and inconsistent operating models. The trailblazers aren’t just implementing technology – they are redesigning processes. You can’t bolt AI onto legacy processes and expect enterprise-wide transformation.

“In a world of uncertainty and rapid change, the real question isn’t if insurers should adapt, it’s how boldly and effectively they can do so to unlock growth and stay ahead.”

Turning to his outlook for the year ahead and the industry’s approach to the next phase of the market cycle, Russignan said that while the competitive landscape is being fundamentally reshaped, there is strong reason for optimism.

“The technology is here: 88% of insurers have adopted hybrid cloud to modernise their legacy IT infrastructure. The question for 2026 isn’t whether transformation is possible, but whether insurers will pair their technology investments with the organisational redesign that makes them work,” Russignan explained.

He added, “Let me give you an example of what success looks like: a global specialist insurer launched a generative AI-enabled underwriting model, built with Google Cloud, to accelerate underwriting for specialty risks such as sabotage and terrorism.

“The result? By mid-2024, the platform was processing 15-20 proposals per day with 98% accuracy, delivering measurable efficiency gains and rapid ROI.

“But here’s the lesson: success came from redesigning the entire workflow – how you operate as a business – and not just incorporating technology. This model of blending generative AI with in-house machine learning and geospatial analytics is now scaling up to form the basis of an enterprise-wide AI underwriting strategy.”

As per Russignan, the industry is collectively learning that tech alone doesn’t work and that redesigning processes and culture is the real test.

He continued, “Will everyone move at the same pace? No – the gap between leaders and laggards will widen – but laggards now have a roadmap.

“Take distribution and engagement as another example. Agents remain the human face of insurance, but their effectiveness is often hampered by siloed systems and manual processes.

“Capgemini’s World Life Insurance Report 2026 reveals that 67% of individuals under the age of 40 want digital access paired with dedicated advisor support, yet only 16% of insurers deliver this experience today.

“That’s not a technology gap – it is a business model gap. Insurers who are designing agent roles around AI-powered tools, rather than simply digitising existing processes, will see meaningful engagement with younger generations.”

Russignan noted these capabilities reduce onboarding friction, enable more targeted cross-selling and upselling, and strengthen customer loyalty.

For carriers, that translates into higher conversion rates and deeper customer relationships. Meanwhile, for agents, he said, it means moving away from administrative tasks and toward advisory excellence, meeting customers where they are with greater speed and confidence.

Russignan concluded the interview, “My prediction for 2026: Insurers will split into two camps. One camp will have invested heavily in cloud and AI, yet still struggle with operational friction because they digitised legacy processes instead of reimagining them. The other camp will have done the harder work of redesigning how humans and technology collaborate – and they’ll be 18 months ahead.”

With over 15 years of experience at top consultancies and insurers, Luca Russignan identifies emerging opportunities and risks in the banking and insurance sectors at Capgemini, translating complex market and regulatory trends into clear, actionable insights for senior executives across the UK, US, Italy, and APAC.

The post Redesigning how humans and tech collaborate will separate leaders from laggards in 2026: Capgemini appeared first on ReinsuranceNe.ws.

In an interview with Reinsurance News, Mahon noted that recent market conditions have made the renewal process increasingly complex. However, despite its importance, renewal management has not been modernised as much as it deserves.

“For many (re)insurers, renewals continue to be a reactive, largely manual back-office function, reliant on legacy systems, spreadsheets and lengthy email chains,” Mahon explained. “Yet as market conditions soften and pricing pressure increases, the quality of the renewal process matters more than ever. A robust, well-governed renewal approach is no longer just an operational necessity – it is a competitive differentiator.”

He highlighted that the lack of a single source of truth limits visibility and control across the renewal portfolio.

“Information is often scattered across personal and shared drives, making even basic planning difficult – such as identifying which treaties are approaching renewal, or distinguishing straight-through renewals from those requiring negotiation,” said Mahon.

He emphasised that slower visibility today allows more digitally enabled competitors to engage earlier and win business.

He continued, “Fragmented data further undermines renewal effectiveness. Performance information – including premiums, claims and loss ratios – is often spread across multiple systems, requiring manual effort to gather, reconcile and validate.

“As a result, renewal decisions are delayed or made without full insight. By the time data is available, negotiations may already be underway or concluded. This increases the risk of agreeing pricing and terms without fully understanding historical performance.”

These challenges are compounded by operational strain during renewal season. Mahon stated, “Heavy reliance on knowledgeable individuals to manually locate, rekey and reconcile information creates bottlenecks and key-person risk, pulling resources away from higher-value activities.

“Manual processing increases the likelihood of errors, inconsistencies and version control issues, particularly in a softening market where more renewals require negotiation.”

The fallout of this, Mahon explained, is missed opportunities to restructure terms or exit underperforming treaties, delayed premium recognition, cash-flow strain, and reputational damage.

He highlighted the critical role of automation in addressing these pressures. He stated that centralised, integrated renewal management provides early visibility of upcoming renewals across configurable timelines, enabling proactive planning and portfolio-level prioritisation. This allows high-risk and high-value renewals to be identified early, so teams can focus on what matters most.

Mahon added, “A single source of truth also enables immediate access to core performance data at the point of renewal. By eliminating manual data gathering, resources can focus on evidence-based decision-making, supporting underwriting discipline and justifying pricing and terms in a more competitive environment.

“Automation further enables faster response times through straight-through processing of pre-agreed renewals, with contracts and professional documentation generated automatically. For negotiated renewals, guided workflows and standardised processes support consistent, controlled adjustments to terms, limits and deductions – significantly reducing rework and error.”

He also underlined the importance of governance, saying, “End-to-end lifecycle management provides full auditability from initial offer through to acceptance, supporting compliance, reporting and post-renewal review. This transparency enables (re)insurers to understand not only individual outcomes, but broader portfolio trends and negotiation patterns.”

Mahon reiterated that as renewal volumes, complexity, and market expectations continue to rise, reliance on manual, people-dependent processes is no longer sustainable. He stressed that in a softening market, weaknesses in renewal processes are quickly exposed.

He concluded, “Now is the time for (re)insurers to rethink their renewal strategy. By investing in automated renewal management, renewals become repeatable, consistent, auditable and insight driven. They become a strategic asset.

“Market cycles will always change. But renewal discipline, enabled by the right foundations, is what allows (re)insurers not just to survive changing conditions, but to outperform across them.”

The post Surviving a softening market with smarter, automated renewals: DXC Technology’s Mahon appeared first on ReinsuranceNe.ws.

In an interview with Reinsurance News, Radhakrishnan said that in recent years, demand across specialty and infrastructure-linked segments, including surety, energy, mobility, and technology, amongst others, has risen, complementing the traditional property, motor, and health portfolios.

Simultaneously, explained Radhakrishnan, regulatory reforms by the Insurance Regulatory and Development Authority of India (IRDAI), and the establishment of a dedicated reinsurance framework within Gujarat International Finance Tech-City (GIFT City), India’s first operational smart city under International Financial Services Centres Authority (IFSCA), have expanded market participation and provided clearer operating pathways for both domestic and international players.

He said, “These shifts have contributed to stronger competition, broader access to capacity, and greater technical engagement across the market. While natural catastrophe exposures and pricing pressures persist in some segments, the overall trajectory suggests a gradually maturing ecosystem with increasing sophistication and analytical depth.”

Radhakrishnan believes that inward treaty reinsurance is critical to India’s aim to become a global reinsurance hub, as it contributes tremendously to the country’s long-term position within global risk markets.

“By underwriting select third-country risks through onshore and IFSC platforms, India can diversify its exposure base and build depth in underwriting, actuarial and analytics capabilities, elements that are characteristic of established reinsurance centres. Inward treaty flows also help retain premium, technical skills and service ecosystems locally, reinforcing the development of GIFT City as a regional platform. While this remains an evolving area, sustained and well-governed inward treaty participation can support India’s ambition to gradually transition from being a large domestic reinsurance market to a recognised contributor within regional and international risk transfer,” he said.

Expanding on India’s regulatory environment, which is primarily overseen by the IRDAI, the CEO described the landscape as a “thoughtful balance between supporting market development and maintaining policyholder protection.”

“On one side, several enabling measures have broadened participation and capacity: the recognition of foreign reinsurance branches and Lloyd’s India, the establishment of IFSC insurance offices in GIFT City under IFSCA, and an increased ceiling for foreign investment in insurance have collectively contributed to a clearer operating architecture and increased global engagement. The regulatory framework also recognises the growing relevance of alternative risk transfer solutions, such as parametric structures, and aligns with India’s expanding economic footprint, rising infrastructure investment and deepening insurance demand,” said Radhakrishnan.

“Certain features of the framework- such as the order of preference, obligatory cession requirements, and collateral expectations for some cross-border placements, continue to prioritise domestic capacity and retention. These provisions may influence how reinsurers operating in India calibrate capital costs, pricing and operating assumptions.

“In totality, the regulatory approach can be viewed as one that encourages capacity expansion, innovation and international alignment, while also ensuring that the domestic market develops resilience in a phased and orderly manner. As the market evolves, ongoing dialogue among stakeholders may continue to refine the balance between retaining risk domestically and integrating more deeply with global reinsurance markets,” he added.

As India’s reinsurance market continues to mature, Radhakrishnan highlighted growing interest in parametric and structured programmes as organisations seek more predictable protection against increasingly complex and climate-linked risks.

Radhakrishnan explained, “Multi-line and multi-year structures may offer continuity and reduced renewal volatility for both cedants and reinsurers, although they require disciplined modelling, clear contractual wording and alignment with accounting and regulatory considerations. While traditional indemnity structures will continue to play a central role, the market’s increasing familiarity with these alternative approaches suggests they may become an important complement, particularly for managing secondary perils, infrastructure exposures and climate-sensitive risks.”

Looking ahead to emerging risks or trends that could shape the Indian reinsurance market in 2026, Radhakrishnan noted that climate-linked secondary perils, including heat stress and urban flooding, are influencing underwriting strategies, emphasising that such risks are directly prompting refinements in catastrophe modelling and a greater emphasis on resilience-oriented products.

He went on to state that, “Cyber risk has continued to evolve, with aggregation and systemic exposures becoming more material as digitalisation accelerates. Infrastructure development is contributing to demand for surety and performance-related covers, while electric mobility and renewable energy introduce evolving loss patterns with limited historical data. These trends collectively suggest a period in which specialty lines, analytics-driven pricing and product innovation will play an increasingly prominent role as data availability improves and technical expertise deepens across the market.”

To end, we asked Radhakrishnan what he sees as the biggest challenges and opportunities for buyers and sellers over the next three to five years.

“For cedants, strengthening exposure data, claims governance and portfolio segmentation will likely be central to navigating underwriting discipline and optimising capacity access. For reinsurers, capital availability, pricing cycles and evolving climate and cyber patterns may shape portfolio strategies, while structured and hybrid solutions could create avenues for differentiation. Across all stakeholders, India’s long-term growth and the ambition of significantly expanding insurance access offer meaningful opportunity, provided market participants continue to advance technical capabilities, develop India-specific models, and invest in talent and technology. Regulatory evolution, when aligned with disciplined underwriting and data-driven practices, can help support sustainable market development in the years ahead,” said the CEO.

The post India’s reinsurance market progressing well, growing interest in parametrics: EDME CEO, Radhakrishnan appeared first on ReinsuranceNe.ws.

We spoke with Mowery around the launch of the broker’s January 2026 reinsurance renewal report. She explained that the dynamics setting the stage for the 1.1 renewals will continue to influence reinsurer responsiveness in 2026.

“The dynamic that we saw really driving activity going into January 1 centred around the amount of capital available and the fact that reinsurers and ILS investors have seen attractive returns. And so, when capital is growing, there’s a question of, what do you do with that capital? Do you redeploy? Do you do something else? There really isn’t a lack of motivation to deploy that capital back into the reinsurance sector, because profitability is good, and your natural inclination is to then want more of that business,” she said.

Mowery noted that there is additional capital due to profitability in the sector, as well as the fact that 2025 was a reasonably moderate year from a ceded loss perspective.

She said several dynamics have contributed to the industry’s current position, pointing to 2023 as a key reference point: “If we think about the last few years, take 2023 as a measuring point for property, there were significant adjustments in the reinsurance market from January 1, 2023, in order to make a market correction to drive future profitability and attractiveness of the sector. Those changes also were a catalyst for the insurance market needing to adjust their own approach to underwriting and capital management.

“So, you’d seen prior to that pricing movements starting to respond to significant losses, really starting in 2017 if we’re talking about property, and driven by activity in the mid-teen years if we’re talking about casualty. Across the market, there was needed remediation in terms of underlying pricing, attachment points and structures of product, and also reinsurance pricing, attachment points and structures of product.

“Reinsurers can change their portfolio very quickly. So, in 2023, on the property side, when they made those major corrections, it took insurers longer to filter changes through their own portfolios. But that’s now really happening, and we’re seeing the results of both reinsurance movement and insurance movement working its way fully through the system. The rate increases that started a handful of years ago, the changes in structures, those now have also worked their way through the insurance sector dynamics.”

Mowery added that reinsurers have benefited from this shift. Looking at 2025 results, she said reinsurers have had a very attractive year, partly driven by the fact that significant large losses are down about 10% compared with the 10-year average. She also noted that insurance losses have started to correct, meaning the insurance sector is seeing improved profitability.

She continued, “The insurance sector made adjustments because of the way that losses are happening, both in property and casualty, and those adjustments are now really driving the discussions with reinsurers. Reinsurers, in the meantime, made their own adjustments, and that has created a more attractive environment for them to deploy capacity. Capital continues to grow through that timeframe primarily because of retained earnings, but also some additional interest in investment in the sector.

“Traditional capital, we’re projecting is going to be up about 8% year on year at January 1. ILS capital, or alternative capital, we’re projecting to be up about 12% year on year, and that’s really a testament to the fact that there are profitable results and continuing interest in participating in the sector.”

Mowery noted that reinsurers are likely to meet their cost of capital again in 2026, granted there are no major unexpected loss events. If you assume a typical loss year, the key question is whether reinsurers are pricing and structuring their products in a way that still delivers acceptable profitability. In her view, they are.

Although property pricing fell more than expected heading into the January 1, 2026, renewals, she said: “There’s still an expectation that the level of pricing we’re at is going to drive reasonable outcomes for reinsurers in 2026, that we’re not going to be at a point as the market dynamics play out where reinsurers are struggling to make that cost of capital.”

The post 2026 expected to be another healthy environment for reinsurers: Mowery, Gallagher Re appeared first on ReinsuranceNe.ws.

Flood‑related insurance losses have continued to escalate throughout 2025, reinforcing the broader trend of rising climate‑driven claims and mounting pressure on the sector’s risk pools.

Globally, insured losses from natural catastrophes are on track to exceed $100 billion for the sixth consecutive year, according to recent Swiss Re data, with flood events a persistent underlying contributor, even if other perils like wildfires and severe convective storms dominated headline figures this year.

Against this backdrop of increasing losses, Jackson highlighted the rapidly evolving nature of flood forecasting. “For insurers and their corporate clients, the flood forecasting landscape is shifting rapidly. The sheer volume of environmental, hydrological, and infrastructure data available today presents both an advantage and a challenge,” he said.

He noted that while the abundance of data offers new opportunities, it also creates significant obstacles. “Data complexity remains a major obstacle: although more information is accessible than ever before, interpreting it reliably—and applying it in the context of real-world exposure, operations, and claims—requires sophisticated tools and expertise,” Jackson explained.

Equally important is the need to turn forecasts into actionable guidance. “Forecasts hold little value unless they can directly inform operational decisions, underwriting strategies, and long-term resilience planning. Turning raw data into practical guidance continues to be a critical hurdle for risk managers, brokers, and insurers seeking to stay ahead of increasingly volatile flood patterns,” he added.

Looking ahead to 2026, Jackson expressed optimism about technological advances in the sector. “We expect to see continued improvements in both areas. Advances in real-time data ingestion, AI-driven modelling, and interoperability between forecasting, asset, and claims systems will empower insurers to take a more proactive stance. These developments will not only sharpen predictive accuracy but also strengthen confidence in early-warning triggers, contingency planning, and capital allocation,” he said.

Jackson concluded by emphasising the importance of strategic adaptation. “2026 will be a pivotal year for the flood insurance market. By combining strategic partnerships, advanced analytics, and a proactive approach to adaptation, insurers can shift from reactive claims management to a fully integrated model of risk resilience.

“The organisations that embrace this evolution will be better positioned to protect customers, safeguard communities, and navigate an increasingly complex climate risk environment with clarity and confidence.”

The post CEO of Previsico says 2026 will be a pivotal year for flood insurance appeared first on ReinsuranceNe.ws.