January renewals

Category: Reinsurance market intelligence · Reviewed by Mark Fox, Broker · Renewals · Last reviewed 2026-06-05

January renewals

The 1 January renewal is the principal reinsurance renewal date in the global market, accounting for the majority of European, North American and global treaty placements. The 1.1 renewal is the centre of the reinsurance calendar, with industry preparation beginning at Monte Carlo in September and the major broker market reviews published in late January.

Category: Reinsurance market intelligence Also known as: 1 January renewal, Jan renewal, 1.1 renewal Related concepts: Monte Carlo Rendez-Vous, Baden-Baden reinsurance meeting, April renewals, June/July renewals

Definition

The 1 January renewal sees approximately 65 per cent of global reinsurance treaty premium placed or renewed. The renewal is dominated by:

• European catastrophe XL reinsurance
• US property catastrophe reinsurance (excluding Florida windstorm, which renews at 1 June)
• Global casualty treaty business
• Specialty lines (marine, energy, aviation) where 1.1 is the principal cycle
• Lloyd’s syndicate inwards business (most syndicate plans align with calendar year)

The 1.1 cycle drives the rhythm of the reinsurance industry: submission preparation in Q3, reinsurer evaluation in Q4, placement in December, accounting and reporting in early Q1.

Legal / Regulatory basis

The 1.1 renewal cycle is market convention rather than regulatory requirement. Reinsurance contracts may have any inception date by agreement of the parties. However, the network effects of the cycle (broker capacity, reinsurer evaluation resources, accounting systems) make 1.1 the de facto standard for most treaty business.

How it works in practice

The 1.1 renewal process:

• September: Monte Carlo positioning. Initial cedant meetings with reinsurers
• October: Baden-Baden refinement. Submission preparation accelerates
• November: Quotation phase. Reinsurers issue quotations on submitted accounts
• December: Placement phase. Negotiations conclude; lines are written; signed slips delivered
• January: Inception. Accounting and bordereau preparation. Broker renewal briefings (Aon, Guy Carpenter) published in late January summarising market outcomes

The 1.1 outcome is the central data point for industry analysis. Rate movements at 1.1 inform expectations for the 1.4 and 1.6/7 renewals.

Example

An illustrative example: the 1 January 2024 renewal saw property catastrophe rates rise approximately 10–20 per cent (loss-affected programmes higher), continued discipline on casualty pricing, and renewed engagement of alternative capital following 2022–2023 retrenchment. Broker reports published in late January 2024 (Aon, Guy Carpenter) provided comprehensive analysis of the renewal outcome.

See also

• /wiki/monte-carlo-rendez-vous/
• /wiki/baden-baden-reinsurance-meeting/
• /wiki/april-renewals/
• /wiki/june-july-renewals/

References

1. Aon Reinsurance Market Dynamics January reports — https://www.aon.com
2. Guy Carpenter January 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.