June/July renewals

Category: Reinsurance market intelligence · Reviewed by Simon Temme, Account Executive · Last reviewed 2026-06-05

June/July renewals

The 1 June and 1 July renewals are the principal US property catastrophe reinsurance renewals, dominated by Florida windstorm exposure (1.6) and US Southeast/Caribbean hurricane exposure more broadly (1.7). These renewals account for approximately 15–20 per cent of global reinsurance premium and are critical to the Atlantic hurricane season risk transfer.

Category: Reinsurance market intelligence Also known as: 1 June renewal, 1 July renewal, Florida wind renewal Related concepts: January renewals, April renewals, catastrophe excess of loss

Definition

The 1.6 and 1.7 renewals are timed to align with the start of the Atlantic hurricane season (officially 1 June). The principal placements are:

• 1 June: Florida domestic insurers’ catastrophe reinsurance. Florida is the largest single state market for property catastrophe risk in the world, with idiosyncratic regulatory and market features (Florida Hurricane Catastrophe Fund — FHCF; Citizens Property Insurance Corporation; the Florida Office of Insurance Regulation)
• 1 July: Broader US Southeast and Atlantic catastrophe reinsurance for non-Florida states (Texas, Louisiana, Mississippi, Alabama, Georgia, South Carolina, North Carolina), Caribbean and other Atlantic-exposed business

The 1.6/1.7 renewals follow the 1.1 European renewals chronologically and provide an updated reading on global property catastrophe market conditions. Broker reports on the 1.6/1.7 outcome are major industry events.

Legal / Regulatory basis

The 1.6/1.7 renewal cycle is market convention. Florida-specific regulation under the Florida Office of Insurance Regulation creates specific dynamics for the 1.6 placement (admitted vs surplus lines, FHCF interaction, residual market mechanisms).

How it works in practice

The 1.6/1.7 renewal is preceded by:

• 1.1 reading of European cat XL conditions
• 1.4 reading of Asian conditions
• Spring NCAA basketball / golf industry events providing informal reinsurer-cedant interaction
• Reinsurance Association of America (RAA) Cat Risk Management seminar in early summer

Florida domestic insurers prepare submissions in March-April, with reinsurer evaluation through May and placement concluding in late May / early June. Negative outcomes at 1.6 (high rate increases, capacity constraints) typically trigger Florida regulatory and legislative responses.

The 1.7 renewal serves a broader US/Caribbean market with less Florida-specific dynamics. Florida loss experience nevertheless influences pricing across the US Southeast.

Example

An illustrative example: the 1 June 2024 Florida catastrophe XL renewal saw rates broadly stable to slightly lower on loss-free programmes (following the absence of major hurricane losses in 2023) and modest increases on Florida-exposed programmes with significant prior losses. The renewal marked a stabilisation following the very sharp rate increases of 1.6 2023, which had followed Hurricane Ian (October 2022).

See also

• /wiki/january-renewals/
• /wiki/april-renewals/
• /wiki/catastrophe-excess-of-loss/
• /wiki/monte-carlo-rendez-vous/

References

1. Aon Reinsurance Market Dynamics June reports — https://www.aon.com
2. Guy Carpenter June renewal commentary — https://www.guycarp.com
3. Florida Office of Insurance Regulation — https://www.floir.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.