Property catastrophe reinsurance rates have fallen 8.1% globally following the April and mid-year renewals, according to the latest update of Guy Carpenter’s property catastrophe reinsurance rate on line indices.
Regular readers will recall that Guy Carpenter updates its global and regional property catastrophe rate on line indices at key renewal periods, with each index capturing the effects of shifts in exposure levels, evolving buying behaviours, advancements in risk assessment, and broader market dynamics.
Guy Carpenter’s Global Property Catastrophe Rate on Line Index fell 6.6% at the January 1st, 2025, reinsurance renewals, the first decrease since the soft market in 2017.
Following the mid-year renewals, the global index is now down 8.1% for 2025 to date, though pricing is still 57% higher than its last low in 2017, reflecting still strong and attractive pricing in reinsurance.
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Meanwhile, Guy Carpenter’s U.S. Property Catastrophe Rate on Line Index, which measures US property catastrophe reinsurance rate on line movements, has declined by 6.7% following the mid-year renewals.
As previously covered, the index for United States property catastrophe reinsurance rates and pricing had fallen by 6.2% at 1/1 2025.
Again, the Guy Carpenter U.S. Property Rate on Line Index can be analysed using Artemis’ interactive chart.
Elsewhere, Guy Carpenter’s APAC Property Catastrophe Reinsurance Rate-on-Line Index has declined by 15.9% as of July 2025, following a 7.2% drop at the January 1st renewals.
This came as no surprise, as a rebasing and re-evaluation of the region’s rate-on-line index revealed that a decline had already taken place in 2024, according to Guy Carpenter’s data.
Given all this, it seems clear that property catastrophe reinsurance rates on line remain appealing, particularly in the United States and select global markets.
At the same time, while the Asia-Pacific region has experienced the most notable softening, rates there still stand well above their previous lows.
When factoring in the more favourable attachment points and contractual terms, which have largely held firm, this environment continues to offer strong profit potential for capital providers and investors looking to enter the reinsurance space.
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