Insurance-linked securities (ILS) capital is shaping reinsurance pricing in the upper-layers, but how the year-end renewals will play out depends on the rest of hurricane season, the potential for any capital to be trapped and the amount of fresh inflows, according to Mike van der Straaten, the CEO of Antares Global.
Providing his reinsurance market view-point in advance of the busy January 2026 renewal season, van der Straaten believes the weight of available and deployable capital will be the deciding factor in how much softening is seen.
He explained the backdrop as, “As we approach the 1.1 renewals, market conditions are stable across all major regions, with similar dynamics evident globally and in the U.S. Pricing discipline remains intact, though the pace of firming has eased as capacity continues to return. Cedents are achieving modest improvements in terms, particularly in peak zones, while reinsurers remain selective and focused on risk quality.
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