Global Chief Broking Officer at Aon, Anshuman Srivastava, joins Ben to unpack the 1/1 renewal season. Record capital, fierce competition, and falling prices reshaped the market. We explore what really happened at renewals and what reinsurers, brokers, and cedents should watch as the cycle evolves.

EPISODE LINKS:

Anshuman's LinkedIn: https://www.linkedin.com/in/anshuman-srivastava-84767633/

Aon: https://www.aon.com/en/

Event: https://www.iilondon.co.uk/home/cpd-programme/webinars-technical-cpd/2026/february/11-renewals-record-capital-expands-opportunity-to-address-more-sources-of-volatility

CONNECT WITH US:

Say Hello: ⁠[email protected]⁠

Website: ⁠https://www.supercede.com⁠ 

LinkedIn: https://www.linkedin.com/company/supercedehq 

X: ⁠https://twitter.com/SupercedeHQ⁠ 

YouTube:⁠ ⁠⁠https://www.youtube.com/@SupercedeHQ⁠ 

RSS Feed: ⁠https://anchor.fm/s/7e741c8c/podcast/rss⁠ 

OUTLINE & TIMESTAMPS:

00:00 Intro02:12 Market Context Before 1/1 Renewals03:01 Reinsurer Profits & Capital Growth04:22 Loss Experience & Secondary Perils06:09 Buyers Question Reinsurance Value07:02 Client and Broker Priorities08:24 Reinsurer Strategy for 1/110:18 Profitability Debate in Reinsurance12:36 Reinsurer Appetite and Innovation14:35 Renewal Outcomes and Pricing16:25 Client Differentiation in Renewals19:00 Performance Across Business Lines20:55 Alternative Capital Expands Beyond Cat21:36 Regional Differences in Renewals23:08 Why Renewals Ran Late25:02 Key Trends After 1/126:08 Data Centres Drive New Demand29:39 Emerging Risks: Geopolitics and Cyber32:20 Cyber Reinsurance Demand Lagging33:04 Indicators for Next Renewal Cycle35:19 Will Capital Stay in Reinsurance?37:04 Q&A: Product Spectrum Explained40:15 What Drives Negotiation Power42:16 What Top Reinsurance Teams Do44:02 PFAS: The Next Asbestos?45:03 What Could Harden Markets Again48:10 Broker Value in Soft Markets51:32 Regional Softness and Diversification53:50 Capital Markets vs Traditional Re56:41 Should Reinsurers Fear Alt Capital?57:30 Final Takeaways