Home›Insurance›Reinsurance›Treaty reinsurance makes up just over 26% of London pr…

Treaty reinsurance makes up just over 26% of London premiums in 2025

Treaty reinsurance premiums in London were GBP 11.270 billion in 2025, down 6% from GBP 11.985 billion in 2024, despite treaty's share staying near 26%.

Reported · Written up by our desk · Reinsurance

Treaty reinsurance accounted for just over 26% of total written London premiums in 2025, while direct and facultative contracts made up the remaining 74%, according to figures cited by the International Underwriting Association.

The IUA report said total treaty reinsurance premiums written in London fell 6% in 2025 to GBP 11.270 billion from GBP 11.985 billion in 2024, and it attributed the move to a disciplined underwriting approach as global non-life premiums sit near a cyclical low.

A breakdown by business class showed property as the largest treaty reinsurance segment at GBP 3.083 billion in 2025, followed by motor at GBP 2.393 billion, marine at GBP 1.555 billion, and liability at GBP 1.365 billion.

Geographically, the UK and Ireland produced more than half of London’s treaty reinsurance premium aggregate at GBP 6.328 billion, while the US and Canada contributed GBP 2.517 billion and continental Europe generated GBP 1.437 billion. The IUA also said firms in London managed an additional GBP 0.621 billion of treaty business written through overseas or UK regional offices, up almost 10% from GBP 0.567 billion in 2024, and quoted Scott Farley describing an industry shift toward more competitive pricing and “deliberately selective” growth.

More like this

Sources