Published on 14 April 2025
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US Property Market Environment Q1 2025
Published on 14 April 2025
As we progress through 2025, we are pleased to report that clients with excellent loss experiences are benefiting from more favorable terms during their renewals.
All in all, clients with excellent loss experience should feel a lot more optimistic going into their 2024 renewals.
This positive trend is supported by an abundance of capacity in both the US domestic and London and international marketplaces. The strong underwriting performances for both 2023 and 2024 have contributed to a property rating environment that currently remains technically adequate within the industry.
Insurers who renewed their treaties at the beginning of the year experienced rate reductions and some improvements in coverage terms, although their retentions have remained unchanged.
While the recent devastating wildfires in California could result in losses of around USD40 billion, the primary impact is expected to mainly affect high-net-worth personal lines insurers and treaty reinsurers underwriting large regional programs. April 1 renewals largely continued the positive momentum seen at 1.1, with outcomes shaped by individual loss experience and program structure, rather than a significant market-wide shift. The overall market impact of these events will unfold over time, and we will continue to monitor developments closely.
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Dan York
Dan joined Alesco London in 2003 after graduating from the University of Southampton.
He is an Account Executive to some of Alesco’s major national and global insurance accounts and is responsible for the placement and servicing of their property insurance into the London, European and Bermuda insurance markets.
Dan's main specialty is on clients with locations in major critical catastrophe exposed areas and perceived high risk. This involves a number of accounts with significant wind and earthquake exposure, primarily in Florida, California, Texas, the Carolinas and the Gulf coast.
