French reinsurance company Arundo Re grew its gross written premiums (GWP) by 13% across its portfolio at the January 1st, 2025, renewals to €970 million, with double-digit growth occurring in all segments despite what CUO Hervé Nessi describes as a “more challenging environment than expected.”
Around 70% of the reinsurer’s portfolio was renewed at 1.1 2025, a renewal season characterised by increased supply which outpaced demand as negotiations moved forward.
According to Arundo Re, many programmes were oversubscribed which ultimately led to price softening for reinsurers.
However, commentary from brokers and reinsurers reveals that terms and conditions, and notably higher attachment points, largely held as reinsurers maintained discipline. This was the case for Arundo Re, who highlights the strengthening of programme structures, particularly through increase in deductible levels that it says ensures reinsurers participate at an appropriate threshold.
But while conditions at 1.1 2025 were less favourable for reinsurers when compared with the 1.1 2024 renewals, the environment is clearly still attractive enough for robust growth, as evidenced by Arundo Re’s 13% top-line expansion during the recent renewal season.
Growth was driven by Life & Health (L&H), Specialty, and Non-Life Reinsurance for Arundo Re. Starting with the latter, the firm has reported a 15% rise in GWP to €632 million. The company notes the need for significant adjustments in the MENA region after the impact of the Dubai floods, as well as new business in Asia, which drove a huge 33% increase.
In the L&H Reinsurance segment, Arundo Re achieved premium volume growth of 12%, driven by expanding range of services, particularly in medical pricing and selection. Importantly, the reinsurers says that the L&H segment has now stabilised at the desired size, which is around one-third of the total portfolio.
The Specialty lines segment delivered premium growth of 18% at the Jan 1 renewals, primarily in the financial and marine sectors. Arundo Re explains that this growth enables it to further diversify its portfolio while reaping the benefits of satisfactory insurance rates within proportional coverage structures. All in all, total premium volume for these specialty segments now stands at €92 million.
Alongside this robust reinsurance portfolio growth, driven in part by strong organic expansion via the securing of profitable new business, Arundo Re highlights the positive influence of a broad rise in primary insurance premiums across most countries and business lines.
“These renewals are satisfying in particular since they took place in a more challenging environment than expected. For the ninth consecutive year, we have achieved a double-digit growth. But the best part of our success is that we have simultaneously improved the return on capital,” said CUO, Nessi.
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