Middle East: 1 July renewal rates drop 10-15% as focus stays on reinsurance continuity
Source: Middle East Insurance Review | Aug 2026
Reinsurance renewals in the Middle East remain concentrated on ensuring continuity of cover for clients amid the evolving geopolitical tensions between Iran and the US, according to Guy Carpenter, a global risk and reinsurance specialist and a Marsh business.
In its report titled “July 2026 Reinsurance Renewal Report”, Guy Carpenter added, “Despite this backdrop, there have been rate reductions between -10% and -15% across the MENA region.”
The geopolitical tensions in the Middle East alone contributed to a slower renewal, but the majority were completed on time, said Guy Carpenter.
Overall, the competitive pricing environment continued to prevail in the global property reinsurance market at mid-year renewals, supported by abundant capacity and a growing appetite from reinsurers. While specialty reinsurance renewals continued a similar trend, significant loss development from the 2024 Francis Scott Key Bridge collapse in Baltimore is expected to impact 2027 marine renewals.
Mr Dean Klisura, President & CEO, Guy Carpenter, said, “In the current market conditions, cedents have secured competitive pricing and terms on their reinsurance programmes, but many are also exploring alternative options, such as parametric solutions and sidecars, as ways to complement their traditional protection. We expect this trend to continue as we move through the remainder of the year.” M