---
title: January renewals | CatX
description: January 1st is the most important date in the reinsurance calendar. See how investors access 1/1 reinsurance and retrocession opportunities on CatX.
url: https://www.catxre.com/januaryrenewals/
---

# The most important date in the reinsurance calendar

January 1st is when the majority of reinsurance contracts are negotiated and renewed. Investors who engage early get first sight of the best opportunities.

[Get started now](https://www.catxre.com/contact-us/?topic=investor)
**90+** days until 1 January

- 75% of the retrocession market transacts at 1/1
- 60% of the reinsurance market transacts at 1/1
- 18% average annual reinsurance returns
- 4× lower volatility than the S&P 500 for ILS

## What are reinsurance and retrocession?

### Insurance buyer

Large corporates or governments buy protection against a risk, such as a hurricane.

### Insurance

Insurers pool these risks and decide which to keep and which to pass on through reinsurance.

### Reinsurance

The insurer transfers part of its risk, protecting itself from large losses so it can always pay claims.

### Retrocession

Reinsurers pass some of their risk to other reinsurers and investors, managing their exposure to major events.

## The road to 1 January

1. September

   ### High-level indications of demand

   (Re)insurers indicate where they are looking for capital for January.
2. October

   ### First look at opportunities

   Exclusive early sight of opportunities through the CatX platform.
3. November

   ### Analysis, pricing and early quotes

   Review opportunities with investment committees and assess the modelling and information.
4. December

   ### Final quotes and acceptance

   Insurers accept quotes and bind the remaining opportunities to close ahead of January.

## Demystifying insurance-linked securities

Financial instruments that transfer insurance risk from insurers to capital markets.

- 4× lower volatility than the S&P 500
- 168.4% total return for the Swiss Re Cat Bond Total Return Index (2002 to 2023)

[Read more](https://www.catxre.com/insurance-linked-securities/)

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Contact CatX: hello@catxglobal.com (general), investing@catxglobal.com (investors), insurance@catxglobal.com ((re)insurers and brokers), +1 (628) 888-6028. CatX is regulated by the Bermuda Monetary Authority as an Innovative Intermediary.