Reinsurers positioned reasonably well for 2025 after 1.1 renewals: Vickers, Gallagher Re
- July 28, 2025
- Posted by: Luke Gallin
- Category: Insurance
Speaking with Reinsurance News in a recent video interview, James Vickers, Chairman of reinsurance broker Gallagher Re’s International division, said that after the January 1st renewals, reinsurers are well placed but the question for companies for the rest of the year is what they can do about growing their premium volume or achieving targets.
Our first Reinsurance News video interview is with Gallagher Re’s Vickers, who joined us to discuss the recent 1.1 renewals, the outlook for upcoming renewals and the year ahead across property and casualty markets.
The video interview also explores the industry’s robust capital levels and profitability amid rising cat losses, and the alternative capital space.
Vickers explained that many “reinsurers will have ended their 1.1 renewals reasonably happy with the terms and conditions that they achieved.”
He went on to note that although there’s been some rate reductions, “they’ve been for programmes that either warranted it by class or by territory, and a lot of them were springing off some very, very attractive pricing.”
In contrast, Vickers suggested that reinsurers might be less pleased with the growth numbers achieved, describing this as a “little bit of a damper” on their outlook for the months ahead.
“So, the question for them for the rest of the year is what they can do about increasing their premium volume or achieving their premium growth targets that they’ve got in 2025. Or, are they going to have to row back from those a little bit and say, look, we’re not going to chase the market down. So, that is, I think, the real test that we’re coming into, and we’ll see that played out over the next big renewal seasons of 1.4, 1. 6, and 1.7,” said Vickers.
Watch the full video to hear more from Gallagher Re’s Vickers on the 1.1 2025 renewals, the property and casualty markets, the insurance-linked securities (ILS) sector, rising cat losses and more.
The full video interview is embedded below.
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