Guy Carpenter’s July 2026 Reinsurance Renewal Report shows that risk-adjusted declines have deepened in some cases since January 1, with global property catastrophe online rates (ROL) still down around 16%.
The company attributes this trend to healthy loss activity, ample reinsurer capacity and increasing risk appetite, which together continue to maintain a highly competitive pricing environment.
This in turn allows cedants to diversify their reinsurance panels and become more selective on price.
As mentioned earlier today, many are also exploring alternatives, such as parametric solutions and sidecars, as a complement to traditional protection.
Guy Carpenter President and CEO Dean Klisura said he expects the trend to continue through the rest of the year.
Elsewhere in the report, global risk and reinsurance experts said more nuances were observed across properties in each risk allocation, with rates increasing in some cases.
Pricing ranges for each U.S. property risk are fixed to +10% for businesses affected by the loss and -5% to -15% for businesses not affected by the loss.
In North America, Guy Carpenter explained that the broadening appetite of reinsurers has led to greater interest in frequency protection coverage and broader products to enhance customer risk transfer programmes.
The company also noted that cedants in Latin America and the Caribbean have been able to leverage guaranteed savings to rebuild coverage and explore new supplemental purchases, as reinsurers’ appetite expands.
“Demand for parametric insurance is growing across multiple regions, with the most successful layouts addressing frequency protection structures currently unmatched by traditional reinsurance markets. Likewise, demand for structured solutions continues to grow,” said Guy Carpenter.
Meanwhile, Guy Carpenter highlighted July 1 as a key renewal date for cedants in Australia and New Zealand, with domestic market consolidation reducing the need for reinsurance limits.
Despite Australia being hit by hail damage in 2025, the report said risk-adjusted rate cuts were continuing. The broader Asia-Pacific real estate disaster ROL index fell 19%.
Meanwhile, more than 80% of Europe is reportedly set to renew on January 1, with Guy Carpenter noting that rates continued to fall across the region mid-year, delivering greater savings to top-tier customers.
The company’s report added: “The European Real Estate Disaster ROL Index has remained broadly stable, having fallen by around 15% on January 1.”
Guy Carpenter also said that as the ongoing conflict evolves, it remains vital to provide ongoing coverage to clients in the Middle East during the mid-year renewal period.
Nonetheless, rates fell by -10% to -15% in the MENA region and -10% to -20% in South Africa.
