Kyle Menendez, Managing Director and Head of North America Property at Howden Re, discussed the dynamics of the mid-year 2025 reinsurance renewals in an interview with The Insurer. He highlighted the importance of partnership during periods of market volatility.
“Partnership isn’t just a concept; it’s a mechanism for navigating volatility and building sustainable programs,” Menendez said.
According to Menendez, reinsurers responded to cedents’ clearer understanding of their exposures by deploying capacity that was more data-driven and transparent about risk appetite. There was also a greater focus on ensuring long-term sustainability in portfolios. These factors contributed to a renewal season characterized by technical engagement, increased flexibility from reinsurers, and more effective negotiations.
Menendez also outlined his expectations for future market developments. He stated that clarity, discipline, and responsiveness will be essential for those aiming to deliver value as the market continues to evolve. He noted that those who can clearly define their risk appetite, structure deals precisely, and provide tailored solutions will be better positioned for long-term success.