Wade Gulbransen, CEO North America at Howden Re, described the current reinsurance market for property in North America as a "market of opportunity" during an interview with Reinsurance News at RVS 2025. He noted that significant changes have taken place over the past three to four years.
Gulbransen explained that while he is optimistic about the property side, the casualty market faces ongoing challenges. He said adverse development continues in commercial auto liability and other liability sectors in North America. This situation requires a more segmented approach with careful risk selection and pricing.
"Despite challenging times, we do believe there are opportunities to make money in the casualty space, but it’s down to risk selection and how you price the business," Gulbransen stated.
Looking ahead to January 1, 2026 renewals, Gulbransen predicted that supply will likely outpace demand. However, he added that updates to models and clients’ interest in higher limits could lead them to seek more coverage.
"I expect that many reinsurers will look to deploy increased capacity to their existing client base first, and then look to new, attractive partnerships to deploy this additional capacity. I think this sort of strategy will lead to continued discipline in his hard market softening phase," said Gulbransen.
The full article can be read on Reinsurance News.