Aon's Mike Van Slooten on January renewals

The run-up to the 2025 January renewals was marked by large frequency natural catastrophe losses, two major hurricanes and ongoing market concern over US casualty. As it transpired, property catastrophe rates fell at 1.1, amid strong reinsurer appetite for risk, while there was no wholesale withdrawal of capacity from casualty lines. However, the year is already off to a tumultuous start with wildfires devastating Los Angeles. With all this in mind, Insurance Day speaks with Mike Van Slooten, head of business intelligence at Aon, to hear his insights on the renewals and where they place us going into 2025.