Reference The year in renewals Treaty & primary cycles

The Cycle Calendar.

Commercial insurance runs on cyclical deadlines — treaty renewals, primary policy renewal seasons, regulatory filing dates, and industry conference timing that anchors the negotiation calendar. This is the working year, the dates that matter to anyone who needs to coordinate with the market or anticipate where pricing is heading.

Color tags: Treaty reinsurance renewal · Primary direct insurance renewal cycle · Regulatory filing or compliance date · Event industry conference or market gathering

January
Jan 1
Major treaty renewals (1/1) Treaty
The single most consequential date in reinsurance. US property and casualty treaty business, retro treaties, and most multi-class programs renew. Tone of 1/1 renewals signals the cycle direction for the year.
Jan 1
Workers' Comp policy year (most states) Primary
Most state workers' comp filings, experience modification factors, and class code updates take effect.
Mid-Jan
PCS / Verisk loss estimates Event
Property Claim Services publishes preliminary cat loss estimates for prior calendar year. Sets the loss-experience tone for spring conferences.
February
Feb
Carrier 10-K filings Regulatory
Publicly traded carriers file annual reports. Reserve development, combined ratios, and forward-looking statements set analyst expectations for the year.
Feb–Mar
NAIC Annual Statement filings Regulatory
All US insurers file the Annual Statement (the "yellow book") with state regulators, including detailed underwriting and investment data.
March
Mid-Mar
PCI / APCIA Annual Spring meeting Event
American Property Casualty Insurance Association annual gathering. Carrier executives, regulators, and major brokers.
April
Apr 1
Japanese treaty renewals (4/1) Treaty
Major Japanese property treaties renew, including the largest catastrophe programs in the world by treaty premium. Sets the tone for Asia-Pacific cat pricing.
Apr
RIMS Annual Conference Event
Risk and Insurance Management Society annual meeting. The largest buyer-side gathering in the industry. Brokers and carriers attend in force to meet risk managers.
May
Early May
First-quarter carrier earnings Regulatory
Q1 results from major carriers. First read on how the year's loss experience and pricing changes are playing out.
Mid-May
Monte Carlo Rendez-Vous prep season begins Event
Reinsurance brokers and cedents begin assembling presentations for the September gathering. Treaty pricing conversations start.
June
Jun 1
Florida treaty renewals (6/1) Treaty
Florida wind-exposed property reinsurance treaties renew. The single most cat-concentrated treaty date. Pricing reflects the prior season's loss experience and forward season expectations.
Jun 1
Atlantic hurricane season begins Event
June 1 through November 30. Property carriers, reinsurers, and ILS funds enter their highest-exposure period.
July
Jul 1
Mid-year treaty renewals (7/1) Treaty
Australia, New Zealand, and US specialty (notably Florida domestic carriers) treaty renewals. Often the most contentious renewal date of the year because of season timing.
Jul
Second-quarter carrier earnings Regulatory
Q2 results. The first six months tell the story for the rest of the year.
August
Aug
Peak hurricane season Event
August through October. Most Atlantic landfalls occur in this window. Cat-modeling activity intensifies.
Aug
Renewal prep season begins Primary
Commercial brokers begin renewal marketing for January 1 effective dates. Submission flow to carriers picks up.
September
Mid-Sep
Monte Carlo Rendez-Vous Event
The Rendez-Vous de Septembre. The most important annual gathering in reinsurance. Brokers, cedents, and reinsurers meet face-to-face to begin 1/1 negotiations.
Late Sep
PCI Annual Meeting Event
APCIA fall meeting. US carrier-focused gathering.
October
Oct
Baden-Baden Reinsurance Meeting Event
The other major reinsurance meeting of the year, traditionally focused on European cedents and reinsurers. Treaty negotiation intensifies.
Oct 1
India treaty renewals (10/1) Treaty
Major Indian treaty business renews. Growing in significance as the Indian market expands.
Oct
Third-quarter carrier earnings Regulatory
Q3 results. Critical because hurricane season exposure is largely behind us.
November
Nov 30
Atlantic hurricane season ends Event
Property and cat insurance world exhales. Loss totals for the year crystallize.
Nov
January 1 treaty placement deadline Treaty
Most 1/1 reinsurance placements need to be substantially completed by mid-to-late November to allow for documentation and confirmation.
December
Dec
Year-end primary policy rush Primary
January 1 effective primary policies finalize. Brokers and underwriters work through Christmas. Last-minute carrier substitutions, layer rebuilding, and certificate issuance.
Dec 31
Treaty contracts incepted Treaty
All 1/1 treaty paperwork must be in place. The reinsurance year resets at midnight.