1 April Reinsurance Renewal Review

The soft market conditions persisted, with most lines of business including property, liabilities and financial lines renewals oversubscribed. Reinsurer appetite increased more than demand. Some insureds opted for increased and formalised self-insurance options significantly reducing the demand for traditional insurance and reinsurance capacity. We witnessed a range of pricing outcomes depending on past performance, quality of underwriting information and region. The combination of low catastrophe losses in the last two years and increased capacity from international markets presented insurance and reinsurance brokers with the opportunity to correct both previously overpriced programmes as well as policy wording enhancements. The markets were amenable to additional coverage and extensions at the right prices. Property premium rates reduced by around 15% while financial lines premium rate reductions were more modest at around 8%. We anticipate this trend to extend further into mid-year and 3^rd quarter 2025 renewals. According to rating agency Fitch, the global reinsurance sector is expected to remain resilient in 2025, with strong profitability despite the likely passage of the reinsurance pricing cycle’s peak. Contact our Brokers today to discuss tailored insurance solutions that fit your needs! Email: info@maksure.co.za or visit our website www.maksure.co.za Tel: 011 805 0086 Web: www.maksure.co.za

About Maksure Risk Solutions

Maksure Risk Solutions is an Afro-Global independent specialist insurance and reinsurance broker with business footprint in Africa, Asia, East & Western Europe, South America and the Caribbean. We provide innovative and tailor-made risk solutions in Insurance and Reinsurance as well as Risk Financing and Actuarial Consulting geared towards capital management and strengthening our client’s balance sheet. Maksure is also one of the major players in Captive Management (Establishment & Management) in South Africa, Mauritius, Bermuda and various other jurisdictions. We have access into the Lloyds of London with a deep understanding of African markets. Our global nature ensures that our clients access quality capacity as well as some of the world’s latest thinking and solutions.