Reinsurance News
Catastrophe losses
REPAIR programme’s Phase 2 extends to Angola, Burundi, Malawi, Seychelles and Zambia
28th July 2025
The World Bank has approved the accession of five countries - Angola, Burundi, Malawi, Seychelles, and Zambia - under Phase 2 of the Regional Emergency Preparedness and Access to Inclusive Recovery (REPAIR) programme. This widens the programme’s geographical reach, boosting its ability to enhance the resilience of vulnerable populations in Eastern ... Read the full article
CRC Group’s Q2’25 Property REDY Index highlights softening market and expanding capacity
24th July 2025
CRC Group, a wholesale specialty insurance distributor in North America, has published the Q2 2025 update of its Property REDY Index. The Index offers a monthly analysis of renewal pricing trends using data collected across CRC’s property book. Built from one of the industry’s larger wholesale data sets, it is intended ... Read the full article
Allstate estimates $619m in cat losses for June 2025
17th July 2025
The Allstate Corporation has estimated catastrophe losses for June 2025 of $619 million or $489 million, after-tax. June’s cat losses are the result of 15 events, with approximately 70% of the losses related to three wind and hail events. In comparison, the June 2024 estimated cat losses were $230 million, which ... Read the full article
US wildfires & SCS push global insured losses to at least $100bn in H1’25: Aon
15th July 2025
Global insured losses from catastrophe events in the first half of 2025 increased to at least $100 billion, the second highest on record after 2011's $140 billion, driven by the Los Angeles wildfires and severe convective storm (SCS) activity in the US, reports insurance and reinsurance broker Aon. The broking group's ... Read the full article
Hail responsible for 55% of solar PV weather claims in North America: AXIS Capital
11th July 2025
A new report from AXIS Capital Holdings Limited reveals that hail accounts for 55% of the total gross claims related to natural catastrophes and extreme weather for solar photovoltaics (PV) in the US and Canada. AXIS's Global Energy team has published a report, "Solar vs. Hail Pivoting Away From Danger", to ... Read the full article
Extreme weather losses in Australia exceed AUD 1.8bn in H1’25: ICA
2nd July 2025
According to new data released by the Insurance Council of Australia (ICA), the total insured cost of extreme weather events in the first half of 2025 has now surpassed AUD 1.8 billion from 148,437 claims. A breakdown of these claims shows that the most recent event, the Mid-North Coast and Hunter ... Read the full article
IAG’s FY’25 natural peril costs come in below budget at ~$1.1bn
2nd July 2025
Insurance Australia Group (IAG) has reported estimated natural perils costs for the financial year 2025 of approximately $1.08 billion, which is $200 million lower than its allowance for the period. Ahead of its FY’25 results, which will be announced on August 13th, 2025, the insurer reported that the costs include over ... Read the full article
London market holds firm as reinsurance discipline shapes 2025 outlook: Berenberg
30th May 2025
Berenberg, a private bank and financial institution in Europe, has released new analysis highlighting a clear trend across the London insurance market: stronger pricing discipline is holding, driven by structural changes in the global reinsurance space. The shift follows a period of elevated natural catastrophe losses, which prompted a reassessment of ... Read the full article
ICA declares NSW floods ‘Insurance Catastrophe’ as claims received nears 5,000
27th May 2025
The Insurance Council of Australia (ICA) has upgraded the Mid North Coast and Hunter flooding event classification to an "Insurance Catastrophe" due to updated feedback on ground information about local event severity. So far, insurers have received 4,900 claims from the event, which has seen flooding in the Mid North Coast ... Read the full article
Up to $7bn May storm losses reinforce SCS reclassification need: Gallagher Re
23rd May 2025
With a preliminary insured loss estimate ranging from $4 billion to $7 billion for the severe weather events across the U.S. between May 14 and 20, Gallagher Re's Chief Science Officer and Meteorologist, Steve Bowen, has argued that it's well beyond time to abandon the semantic classification of severe convective ... Read the full article
May severe weather outbreaks could rank among costliest in US history: Aon
22nd May 2025
Given the widespread tornado, hail, and wind damage across the central and eastern United States, Aon has suggested that the May 14–17 outbreak could rank among the costliest severe weather events in U.S. history when adjusted for inflation. In a new report, Aon examined the meteorological drivers and impacts of two ... Read the full article
Tornado outbreak likely costliest US severe weather event of 2025
21st May 2025
In what is currently regarded as the costliest severe weather event of 2025, a widespread tornado outbreak across the U.S. Midwest and Southeast has resulted in substantial economic and insured losses, with Cotality estimating that approximately 63,000 properties may have been damaged nationwide and total reconstruction costs nearing $16 billion. The ... Read the full article
Allstate estimates cat losses for April at $594m
15th May 2025
The Allstate Corporation has revealed estimated catastrophe losses for April 2025 of $594 million or $469 million, after-tax. According to the firm, catastrophe losses for April 2025 included 11 events, with approximately 60% of the losses related to two geographically widespread wind and hail events. In comparison, Allstate's catastrophe losses in ... Read the full article
Extreme weather costs in Australia in 2025 hit AUD 1.5bn: ICA
12th May 2025
According to new data released by the Insurance Council of Australia (ICA), the February North Queensland floods and ex-Tropical Cyclone Alfred in March have so far caused insured losses of almost AUD 1.5 billion. The ICA has clarified that these two events are being prioritised by insurers as they have resulted ... Read the full article
Hamilton posts Q1’25 net income of $81m as catastrophes drive underwriting loss
8th May 2025
Bermuda-domiciled re/insurer Hamilton Insurance Group has reported net income of $81 million for the first quarter of 2025, down considerably on the prior year's $157 million, as the firm's underwriting result was hit by the California wildfires in January. The re/insurer has reported a Q1’25 combined ratio of 111.6%, up from ... Read the full article
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