Data from Guy Carpenter, the reinsurance broking arm of Marsh McLennan, and ratings agency AM Best, shows that global reinsurer capital has grown by approximately 7% year-on-year, rising from $568 billion in 2023 to a projected $607 billion in 2024, with growth in both traditional and alternative capital.
Traditional capital grew by 7%, rising from $468 billion at year-end 2023 to an estimated $500 billion at the end of 2024, according to Guy Carpenter and AM Best.
Similarly, alternative reinsurance capital increased by 7% year-on year, from $100 billion to $107 billion. This growth is attributed to robust activity in the 144A catastrophe bond market, which saw 67 cat bonds issued, placing approximately $17 billion in limit for 2024, according to Guy Carpenter’s figures.
As shown in the chart below, global reinsurer capital is at its highest level to date, having increased by $171 billion, or 39%, since 2018. The 2024 total is also $36 billion higher than the previous end-of-year peak recorded in 2021.
Yesterday, reinsurance broker Guy Carpenter noted that at 1.1 2025, “property catastrophe renewals were consistently oversubscribed as reinsurer appetite increased by 10% to 15%.”
