Malaysia property risk programmes see reductions: Gallagher Re

Small flood event losses on the East Coast did not impact renewals.

Gallagher Re reported mid-single-digit reductions in Malaysia's property risk and catastrophe excess of loss programmes during the 1.1.2025 renewals. 

Small flood event losses on the East Coast did not impact renewals, although a significant coastal flood loss involving car storage in Klang was noted. 

Aggregate exposure and net retained income increased by high single digits.

Whilst reinsurers remained hesitant to lead pro rata treaties, programmes were completed with ease, aided by the entry of new reinsurers into the market. 

Globally, property renewals at 1.1.2025 were orderly, supported by improved market dynamics and adequate capacity. 

However, outcomes varied significantly, reflecting the market's growing focus on tailoring terms to individual account circumstances. 

Cedants' ability to present detailed, bespoke risk analyses, leveraging advanced research and underwriting techniques, played a key role in securing favourable reinsurance coverage.