Third-party capital in reinsurance, deployed through alternative capital vehicles, catastrophe bonds and insurance-linked securities, is projected to grow roughly 6% over the course of this year, to end 2026 around a record $130 billion level, according to the latest data from AM Best and Guy Carpenter.
The growth rate would have been higher at more than 8%, but rating agency AM Best and reinsurance broker Guy Carpenter have now raised their end of 2025 figure for third-party reinsurance capital, from the previous estimate of $120 billion to now $123 billion.
The pair had previously forecast third-party capital to have grown over 12% during the course of 2025 to a record $120 billion, but that has now been updated to $123 billion at the end of last year.
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