Reinsurance News
caribbean
Willis and CBF launch first-of-its-kind coral reef parametric insurance programme
5th August 2026
Willis, a WTW business, and the Caribbean Biodiversity Fund (CBF) have launched a first-of-its-kind parametric insurance programme to protect Caribbean coral reefs. Liberty Mutual will provide capacity, with InsuResilience Solutions Fund (ISF) providing technical assistance and co-finance support. Coral reefs are among the most ecologically and economically significant ecosystems in the Caribbean; ... Read the full article
Lockton Re expands LatAm & Caribbean capabilities with new appointments
10th February 2026
Lockton Re, the reinsurance business of Lockton, has expanded its Latin America & Caribbean capabilities with the appointment of Dario Luna joins as Regional Leader of Strategic Risk Solutions, and Antonio Rodriguez as Treaty Reinsurance Associate Solutions. In his new position, Luna, who brings over 25 years of experience, will focus ... Read the full article
Caribbean insurers’ reinsurance costs & capacity constraints moderate: AM Best
9th February 2026
Constraints regarding costs and capacity have begun to moderate for Caribbean insurers, amid an accelerated softening in property reinsurance pricing and a modest relaxation in some terms and conditions, according to a recent AM Best report. For regional insurers, this shift, combined with aggressive rate adjustments, has paved the way for ... Read the full article
Crew Reinsurance Brokers launched by José Astorqui
4th February 2026
Crew Reinsurance Brokers, a Miami headquartered reinsurance broker, has been launched by José H. Astorqui, marking the culmination of its evolution from ATL RE. An announcement on the launch states that this evolution "responds to the growth experienced by the company in recent years and reflects the maturity achieved by the ... Read the full article
Swiss Re’s Schoch appointed Strategic Consultant of Marine for Gallagher Re LAC
3rd December 2025
Gallagher Re, the reinsurance arm of the global broking group, has announced the appointment of Erika Schoch Strategic Consultant of Marine for Gallagher Re Latin America and Caribbean (LAC). In her new consulting role, Schoch will leverage her diverse background and expertise to support the development of our Marine business across ... Read the full article
AccuWeather estimates up to $52bn in economic losses from Hurricane Melissa
31st October 2025
Hurricane Melissa, the first Cat 5 storm to make landfall in Jamaica’s history and among the strongest storms ever recorded in the Atlantic, has caused $48 billion to $52 billion in total damage and economic losses, according to AccuWeather’s preliminary estimates. Hurricane Melissa, with peak winds of 185 mph (298 kph) ... Read the full article
Consilium to open new office in Kingston, Jamaica
12th September 2025
Consilium, a speciality re/insurance wholesale broker, has announced plans to establish a new office in Kingston, Jamaica, subject to regulatory approval, with Max Pragnell serving as Managing Partner for the office. The Kingston location is part of Consilium’s ongoing expansion of its international operations. The office will combine local expertise with ... Read the full article
Hurricane Beryl losses likely to be within reinsurance sector’s risk appetite: AM Best
4th July 2024
Although it will be some time before the overall losses and impacts from Hurricane Beryl are understood, John McGlynn, a senior financial analyst at AM Best, expects losses to the reinsurance industry to be within risk appetite and contained in their earnings. At the same time, McGlynn warns that cost pressures ... Read the full article
Lloyd’s new Miami office to strengthen Latin America and Caribbean business
5th June 2024
Global re/insurance marketplace, Lloyd’s has announced the opening of a new office in Miami, a move that is designed to strengthen its Latin America and Caribbean business. The new office, which will open from 1 September 2024, will enable Lloyd’s to realign its resources to centrally support brokers, coverholders and managing ... Read the full article
Lockton CCA launches region’s first Food, Agriculture & Beverage insurance broking practice
22nd May 2024
Lockton Caribbean & Central America (CCA) has launched the region’s first Food, Agriculture & Beverage (CCA FAB) insurance broking practice. The new Food, Agriculture & Beverage practice within Lockton CCA, the Miami-based wholesale re/insurance operation focused on the region, within Lockton's Latin America and Caribbean Insurance Services Series (LACIS). Working as a ... Read the full article
Caribbean insurers face profit pressure due to challenging reinsurance renewals: AM Best
9th October 2023
Caribbean domestic insurers are grappling with a challenging reinsurance renewal season this year, as per a recent report by AM Best. The region has experienced a reduction in reinsurance capacity between 10% and 15% in 2023, primarily driven by factors such as increased non-modeled events in the United States and Europe, ... Read the full article
MIGA and IDB Invest enter into partnership to boost development impact
4th September 2023
The Multilateral Investment Guarantee Agency of the World Bank (MIGA) and IDB Invest, the private sector arm of the Inter-American Development Bank Group, have entered into a four-year partnership that is set to mobilize more private sector capital in Latin America and the Caribbean. Under the terms of the agreement, MIGA, ... Read the full article
CCRIF makes four payouts totalling $15.2m for 2022 Hurricane Season
31st October 2022
The CCRIF SPC has released a report stating it has made 4 payouts totalling US$15.2 million to 3 of its member governments during October for hydrometeorological events associated with the 2022 Hurricane Season. Nicaragua received US$8.9m on the country’s tropical cyclone policy following Hurricane Julia, which made landfall in Nicaragua on ... Read the full article
Caribbean re/insurers continue to navigate economic headwinds: AM Best
26th August 2022
According to AM Best’s market segment report, Caribbean insurers continue to navigate economic headwinds and market volatility while remaining highly vulnerable to several other risks. Climate, reinsurance, and cyber in particular. Despite the low level of claims activity in 2021 and thus far in 2022, reinsurance pricing continues to reflect increased ... Read the full article
Rokstone’s Aura Underwriting launches new Caribbean parametric insurance product
27th June 2022
Aura Underwriting , part of the international specialty re/insurance MGA, Rokstone, and the Aventum Group, has announced the launch of Aura Parametric – a new Caribbean parametric product to complement its existing Lloyds Caribbean binder. Aura Parametric will provide reinsurance for hurricanes that intersect a pre-defined radius of an insured’s location, ... Read the full article
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