(Re)insuring as the world grows less trustful
By Andy Bye, Executive Director
Trust has always been the invisible currency of insurance.
But the latest global data suggests that this currency is under pressure.
The 2026 Edelman Trust Barometer, one of the largest annual surveys on institutional trust, found that distrust is alarmingly becoming the default instinct of individuals across the globe, with only one-third of respondents saying that others can be trusted. These same respondents go on to say that they would have profoundly lower trust in institutions if they were led by anyone different from themselves.
Comparisons with previous Edelman studies reveal a widening “trust gap” between individuals, and more widely, institutions and the stakeholders they serve.
This era of unprecedented insularity poses a challenge for businesses seeking to onboard new clients and break into new regions. For most industries, this is a reputational and growth challenge. For insurance and reinsurance, it poses a more existential issue because our industry depends on good-faith negotiations and promises. One caveat in this study is that while people are losing trust in large institutions, like government and media, the report highlights how people still trust local businesses they know well. Meaning, businesses that establish themselves in communities and put faces behind titles will be more able to pass through growing trust barriers. Addressing this challenge has been intrinsic to NPRe’s DNA from the start.
A promise that may not be tested for decades
Unlike other industries, the value of an insurance contract is rarely seen immediately. Policies written today may not be tested for years or even decades, when the critical claims process begins
Edelman, in their 2026 report, suggest countering this growing insularity, through “trust brokering,” a term they coined. Trust brokering means creating a pathway for connecting divided parties despite their insularity by emphasizing similarities over differences.
Trust brokering is the heart of our business, and it’s been crucial to the success of . That’s why 40% of our partnerships now span more than four years. We have retained partners from day one and have always benefited from a diverse and international client and employee base. We prioritise transparency throughout our process, and our small and nimble team means key decision-makers are accessible, with nothing getting lost in endless corporate procedures. We understand when a cedent buys capacity, they are not simply purchasing a price or a policy. They are buying a promise that when the unexpected happens, the partner on the other side of the agreement will still be there.
That is why trust has always been the quiet foundation of the reinsurance market.
When trust weakens, markets become more transactional. Capacity becomes more volatile. Partnerships become shorter.
But when trust is strong, the opposite happens. Relationships strengthen.
Trust is built in difficult years
Periods of stress are when the difference between counterparties and partners becomes clear.
In recent years the industry has navigated a series of shocks, from inflation and catastrophe losses to geopolitical instability and climatic changes volatility. Nonetheless, the market has demonstrated resilience, in part because long-standing relationships have provided stability where purely transactional capacity might have withdrawn.
For cedents, the most valuable reinsurers are often not those who offer the lowest price in a soft market, but those who provide consistency through the cycle.
For reinsurers, the most sustainable portfolios tend to be built with partners who share the same long-term underwriting discipline.
In other words, trust in reinsurance is rarely built in profitable years. Instead, it’s the difficult ones.
Closing the trust gap
The broader corporate world is increasingly focused on how to rebuild trust with customers and stakeholders. For the reinsurance sector, the answer may lie in something it has always exceled in – cultivating long-term and meaningful partnerships.
True collaboration between cedents, MGAs and reinsurers goes beyond capital provision. It involves alignment on strategy, openness around performance data and a shared commitment to sustainable outcomes over the long term.
Those partnerships create something more valuable than a single contract.
They create trust in the promise itself so each party can grow with confidence.