While market softens, talent and partnerships will define the future in France, Belgium and Luxembourg

The global reinsurance market is at a turning point, in what Howden Re is defining as “a hard market, softening.” As the market enters this next phase, Thomas Kroely, Managing Director for Continental Europe, shares his perspective on the reinsurance landscape across France, Belgium and Luxembourg. He discusses how he is expanding his team in the region and outlines what it will take to succeed in this evolving market.

“Clients’ challenges are becoming increasingly complex,” Kroely explains. “Climate change is reshaping traditional views of risk, regulation is evolving, and new exposures such as cyber are emerging. Meeting these challenges requires innovative solutions and teams with diverse expertise to guide clients through today’s heightened risk landscape.”

Market Overview

Three forces define the regional market: climate change, regulatory change, and shifting risk profiles. More frequent weather events are driving volatility in natural perils such as hail and subsidence, while exposures like increased cyber risk demand new thinking. France’s evolving regulatory frameworks add further complexity for cedants.

The abundance of capacity in the market has enabled reinsurers to deliver more tailored solutions. Yet, maintaining stability over the long term requires disciplined structuring. “These dynamics underline the importance of working with partners who not only understand local market conditions and global trends, but who can also help clients navigate an increasingly complex environment,” Kroely notes.

A Team for Complex Challenges

At the heart of Howden Re’s strategy is a commitment to investing in strong local teams, supported by global expertise. Under Kroely’s leadership, a multi-disciplinary team is taking shape, bringing together talent from broking houses, reinsurers, and cedants to blend technical excellence with practical, real-world insight.

Most recently, Howden Re has strengthened its presence in France with the appointment of five new team members: Margaux Déchant and Arthur Pons as directors, Ferdaws Boumezzough and Kevin Vu as associate directors, and Dravina Fernando as office manager.

“Our approach is not about filling positions for the sake of numbers,” Kroely says. “It is to create a structure where each individual contributes to the bigger picture. This team is focused on building a new offering to clients to overcome the increasingly complex environment in which they are operating. The shifts we have seen since the start of the year are creating opportunities, giving insurers and mutuals greater choice and stronger competition. At Howden Re, we are driven to develop innovative services in analytics, reinsurance cover, tools, and expertise, powered by a passionate and high-calibre team, as we work to advance the reinsurance brokerage industry.”

Market Dynamics: Reinventing Partnerships

Capacity remains available across many lines, including marine and energy, creating favourable conditions for cedants. Yet the softer market requires structuring discipline to ensure long-term resilience.

“We want to reinvent the relationship between clients and reinsurers,” Kroely explains. “Our role is to create a partnership where both sides are supported. With the skills of the team we are building, we design covers that provides value to clients whilst fitting reinsurers’ appetite”.

Howden Re is also investing in technology and external partnerships with specialised firms, creating a hub for reinsurance services that extends beyond traditional broking. This approach strengthens its ability to deliver tailored, data-driven solutions for clients.

Outlook: Local Expertise, Global Reach

While France, Belgium, and Luxembourg are seeing rapid change, they are also part of a much larger story of momentum across Continental Europe. Tobias Andersson, Head of Continental Europe, Howden Re, explains how the business is expanding its presence and capabilities across the region.

“This region is not just a market in its own right,” Tobias says. “It is a cornerstone in Howden Re’s wider continental Europe strategy and growth journey. By investing in local expertise while connecting it to our global network, we are building a platform that gives clients more choice, more innovation, and more resilience.”

Recent milestones in Continental Europe reflect this ambition: a new launch in Iberia, strengthening the DACH region with senior appointments and the opening of a new office, and expanding teams in Belgium and Luxembourg including a growing Capital Solutions business. Additionally, Howden Re International has announced significant regional growth including new offices and senior leadership hires and promotions across APAC, The Middle East, Africa and Latin America.  Each market benefits from the same principle, combining deep local knowledge with global specialty insight.