SIRC: ‘We will have again an increase in capacity on our cat exposure this renewal’: Arundo Re

November 3 2025 by

Laurent Montador, deputy CEO of Arundo Re, speaks to InsuranceAsia News ahead of the upcoming 1.1 renewals in APAC.

1. How do you see the reinsurance landscape in APAC and the outlook heading into the renewal discussions?

The existing market players provide sufficient capacity and also there is an increase in non-traditional reinsurance through ILS marketplace. So, this adds through existing traditional reinsurance to the capacity. But the demand is also growing as the risks. 

Cedents need more cover and so it’s on the top of existing covers, there is also inflation, and there is also additional aggregation of insured values. 

There are some forces to go with lower priorities. For us, it is very important to remain disciplined with the structure. We don’t want to return to times where we had lots of aggregate covers, not knowing exactly which type of losses could inure to those covers, and with many unknowns.  

We really have to be disciplined on that. Reinsurance is clearly there for capital losses but not absorbing the full volatility of earnings losses, only a reasonable portion of it. 

We can do some proposals on that, but clearly not with multi-line, multi-year, multi-aggregate cover with lots of unknowns and lots of unmodelled perils. 

2. Do you expect the current trajectory of rate softening to continue?

Markets have reacted differently with the need to reassess risk in 2023. And Europe is different from Asia.  

On the property cat, there is smaller possibilities to have a decrease and softening of the pricing as the hardening has been lower. Climate change has also different effects even if the same rules apply: warmer air holds 7% more water per degrees Celsius.  

We expect more intense typhoons, with intense rainfalls and sea level in the Pacific and Indian Ocean are rising faster than the global average.  

Also, in Asia, monsoons are expected to be more erratic and intense with widespread flooding and landslides. No, I don’t think there is room to get lower rate on line. 

In the other lines of business, it is something that is very case by case. 

3. Heading into 1.1 renewals, are there any lines where Arundo Re is actively seeking to grow?

We operate in this region and it is a very large part of our portfolio, so we put a lot of people and energies in these markets. 

We continue to see potential growth in mature markets like China, India and South Korea for example, and to a lower extent Singapore and Japan.  

We continue our growth in other markets like Vietnam, Thailand and Malaysia. Our forecast for the Asia region overall is still double-digit growth, we really want to continue to grow with our clients.  

We will have again an increase in capacity on our cat exposure this 2026 renewal.  

We will continue to grow in Southeast Asia.  

4. Do you expect Asia’s growth to match last year’s 33% at the upcoming APAC renewals?

It won’t exactly be the same [as January 2025]. It will be globally at the same pace overall.  

Our business model is to do the underwriting from Paris with international teams with strong links with their markets and clients. We think we can continue to grow and grow with our clients and brokers. 

We are keen to diversify in others Asian markets as well, especially through cross fertilisation with P&C clients. 

For us, it is controlled growth with a well-balanced portfolio.  

What is important for us is being able to generate profits overall through international mutualization and managing the cycles to put additional capital to better serve our clients in the future.  

Partner Content
Join the mailing list Designed to help you stay ahead, our daily newsletter provides a round-up of the latest news and insights, delivered straight to your inbox.
Print Edition
Subscribe to receive our quarterly print magazine.