The mid-year LatAm renewal saw property-cat XoL rates fall 15-20% as Bermuda, London and MGA capacity deepened an already competitive supply base.
The 1 July 2026 renewal in Latin America completed in a market defined by abundant capacity, intensifying competition and a growing appetite for structural innovation. Property catastrophe excess-of-loss programmes saw rate reductions in the range of 15% to 20%.
Existing local players were joined by expanded interest from Bermuda, London and MGA markets, deepening a supply base that handed cedants meaningful leverage across both pricing and programme design.
The regional opportunity remains structural
Insurance penetration in the region still sits below 5% of GDP, even as demand for capacity rises on the back of recent catastrophe experience. For a specialist focused on Group Life and Personal Accident, the competitive property-cat dynamic is less relevant than the enduring, under-served growth in life and health risk transfer, where technical underwriting and regional relationships matter more than sheer balance-sheet size.
Power Re perspective
This commentary reflects Power Re’s reading of public market reporting. It is general information, not underwriting, investment or legal advice.
