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Property excess-of-loss capacity rebounds as traded limits rise 50%
Marsh Re said retro quota share capacity increased 8% in 2026, with total limits placed topping $20 billion, up 30% over four years.
Property excess-of-loss (XoL) capacity for aggregate covers has rebounded, driven by a 50% increase in traded limits, according to reinsurance broker Marsh Re.
Marsh Re’s Global Specialties division said nearly 40% of buyers now integrate frequency protection into their XoL strategies, up from just over a quarter two years ago. The broker added that 2026 occurrence XoL pricing is now aligned with 2021, though average attachment points remain higher than during that period.
On the broader property cover availability, Marsh Re reported that property reinsurance and non-marine retrocession aggregate coverage is far more available than in recent years, supported by the larger pool of traded limits. The firm also cited retro quota share capacity rising 8% in 2026.
Marsh Re said total limits placed exceeded US$20 billion, up 30% over four years, with a three-year average estimated ultimate loss ratio of 42%. It added that absent major catastrophe losses in the second half of 2026, current market themes are expected to persist into 2027, with reinsurer returns supporting further capital growth through retained earnings.