April renewals

Category: Reinsurance market intelligence · Reviewed by Chrissie Anderson, Client Executive · Last reviewed 2026-06-05

April renewals

The 1 April renewal is the second major reinsurance renewal date in the calendar, dominated by Japanese reinsurance, Indian reinsurance and certain specialty classes. The 1.4 renewal accounts for approximately 10–15 per cent of global reinsurance premium and is closely watched as a leading indicator for the 1 June/July renewals.

Category: Reinsurance market intelligence Also known as: 1 April renewal, April renewal, 1.4 renewal Related concepts: January renewals, June/July renewals, Monte Carlo Rendez-Vous

Definition

The 1.4 renewal is dominated by:

• Japanese reinsurance business — including the major Japanese non-life groups (Tokio Marine, MS&AD Insurance Group, Sompo) — which historically operates on a 1 April financial year
• Indian reinsurance — particularly GIC Re (the Indian state reinsurer) and the local insurance market
• Korean reinsurance and certain other Asian markets
• Selected specialty classes (some marine, energy, aviation)

The 1.4 renewal serves as an updated reading on market conditions following 1.1 — rate trends are typically more pronounced at 1.4 because the Asian markets often see different loss dynamics from Europe and North America.

Legal / Regulatory basis

The 1.4 renewal cycle is market convention reflecting the underlying Japanese and Indian regulatory year-end. No specific UK regulatory implications.

How it works in practice

The 1.4 renewal preparation begins immediately after Monte Carlo, with Japanese and Indian cedants making early submissions to reinsurers. Broker reports on 1.4 are typically issued in mid- to late April.

Japanese reinsurance has been particularly significant in recent years following the 2011 Tohoku earthquake, the 2018 typhoon season (Jebi and Trami) and the 2019 typhoon season (Faxai and Hagibis). These events drove material rate movements at 1.4 renewals through 2019–2022.

Example

An illustrative example: the 1 April 2024 renewal saw Japanese property catastrophe XL rates broadly stable to slightly lower on loss-free programmes, reflecting the benign Japanese loss experience of 2023. Indian reinsurance rates remained firm, reflecting continued growth in Indian insurance penetration and adequate capacity.

See also

• /wiki/january-renewals/
• /wiki/june-july-renewals/
• /wiki/monte-carlo-rendez-vous/

References

1. Aon Reinsurance Market Dynamics April reports — https://www.aon.com
2. Guy Carpenter April renewal commentary — https://www.guycarp.com

This entry is part of the Apex Insurance Wiki. Last reviewed by Matt Bartlett on 2026-06-05. Next review: 2026-12-05.

Apex Insurance Brokers Limited. Authorised and regulated by the Financial Conduct Authority, FRN 724952. Registered in England and Wales, Companies House 07014570. This entry provides general information about UK insurance concepts and is not regulated advice. Consult your insurance broker on your specific position.