Reinsurance News
Catastrophe reinsurance
Catastrophe reinsurance news includes coverage of the main catastrophe reinsurance renewals, pricing trends and market developments, as well as analysis of reinsurance market exposure to major natural catastrophe loss events.
The catastrophe reinsurance market remains a core component of global reinsurance and one of the most competitive sectors.
Read all our catastrophe reinsurance news below.
Industry losses from Winter Storm Fern could reach $4bn: Verisk
4th February 2026
Verisk, a global data analytics and technology provider to the insurance industry, has estimated insured industry losses to property and auto from Winter Storm Fern to reach $4 billion, largely driven by freeze impacts, with supplemental losses from wind and snow. The early results from Verisk’s updated U.S. Winter Storm Model ... Read the full article
2025 insured cat losses total $129bn, with US accounting for 78%, says Gallagher Re
21st January 2026
Gallagher Re, the reinsurance broking and advisory firm, released its full-year Natural Catastrophe and Climate Report for 2025, reporting that global natural catastrophe losses during 2025 were largely manageable for the re/insurance sector, with total insured losses for the year estimated at USD 129 billion, which is around 5% below ... Read the full article
Suncorp’s H1’26 natural hazard costs exceed budget at AUD 1.319bn
12th January 2026
Australian insurer Suncorp has disclosed that its total cost of natural hazard events for the first half of 2026 (H1’26) is expected to be AU$1.319 billion, far above the budget of AU$866 million, eroding most of its full-year 2026 (FY’26) allowance of AU$1.77 billion, meaning the carrier will make reinsurance ... Read the full article
US hurricane losses could soar 50% in warming climate, MS Amlin study finds
14th July 2025
Insured losses from US hurricanes could increase by nearly 50% if global temperatures rise by 2°C, MS Amlin, the Lloyd’s re/insurer, warns in its recently launched peer-reviewed study published in the Journal of Catastrophe Risk and Resilience. According to the study, climate change is reshaping hurricane behaviour—altering where storms strike, how ... Read the full article
Kingstone lifts catastrophe reinsurance limit 57% to $440m for 2025
23rd June 2025
Kingstone Companies, Inc., a US property and casualty insurance holding company, has finalised its 2025/2026 catastrophe reinsurance placement, increasing the amount of reinsurance limit secured by 57%, or $160 million year-on-year to $440 million. The limit includes $125 million in multi-year protection through the carrier's first catastrophe bond, 1886 ... Read the full article
HCI lifts reinsurance limit to over $3.5bn at June 1 renewal
3rd June 2025
HCI Group, a Tampa-based insurance holding company specialising in property and casualty coverage, has finalised its catastrophe reinsurance programme for the 2025-2026 treaty year, which runs from June 1, 2025, through May 31, 2026, securing more than $3.5 billion in limit. Last year, the insurer secured $2.7 billion ... Read the full article
Heritage secures more catastrophe reinsurance and higher retention at renewal
9th May 2025
Heritage Insurance Holdings, a super-regional P&C insurer, purchased $2.479 billion of catastrophe reinsurance limit at its 2025 renewal, which is up on last year's $2.194 billion of limit, while this year's placement included a higher retention. The 2025-2026 indemnity-based, catastrophe excess-of-loss reinsurance program protects the firm's statutory insurance subsidiaries, Heritage Property ... Read the full article
American Coastal renews cat XoL agreement, adds $40m of aggregate reinsurance limit
8th January 2025
Florida-based American Coastal Insurance Corporation (ACIC) has renewed its catastrophe excess of loss agreement (AOP CAT agreement), which provides up to $90 million in per-occurrence coverage above a $10 million attachment point, and has also secured $40 million in aggregate catastrophe limit at the January renewals. The AOP CAT agreement, facilitated ... Read the full article
BMA data suggests majority of Bermudian insurers purchased external cat reinsurance in 2023
30th December 2024
A new study by the Bermuda Monetary Authority (BMA) on catastrophe risk modelling practices on the island has found that the number of insurers purchasing little or no external catastrophe reinsurance decreased in 2023, which reflects the heightened demand for coverage during the year. The BMA asked insurers how their cat ... Read the full article
Changes to reinsurance reforms may impact Australian insurers’ credit profiles, says Fitch
20th November 2024
According to analysts at Fitch Ratings, changes to reinsurance-related capital requirements proposed by the Australian Prudential Regulation Authority (APRA) could wind up supporting Australian general insurers’ credit profiles over the medium term if they improve access to reinsurance protection. But, the agency notes, that catastrophe reinsurance pricing and the frequency, severity ... Read the full article
Reinsurance sector can handle a large tail event: S&P’s Karakuyu
12th July 2024
During yesterday's S&P Global Ratings Insurance In Focus webinar, Ali Karakuyu, Director and Lead Analyst, stated that if a large tail, 1-in-200 year catastrophe event were to occur, the global reinsurance sector is well-prepared and would be able to manage it effectively. Responding to a question on the sector's preparedness for ... Read the full article
Rates down 10%+ for some upper layers of property placements at mid-year renewals: GC
3rd July 2024
Reinsurance broker Guy Carpenter's mid-year reinsurance renewal report reveals that some upper layers of property placements saw risk-adjusted decreases of 10% or more for accounts without loss impacts. However, the broker finds that mid-year 2024 global property catastrophe reinsurance risk-adjusted rates were generally flat to mid-to high-single digits. The report noted that ... Read the full article
Kingstone completes 24/25 reinsurance placement with savings of $6mn
20th June 2024
Kingstone Companies, Inc., a US property and casualty insurance holding company, has finalised its 2024/2025 catastrophe reinsurance placement, purchasing a total cat limit of $275 million with savings of $6 million. Jennifer Gravelle, Chief Financial Officer at Kingstone, said: "I am delighted to share that Kingstone has finalised its 2024/2025 catastrophe ... Read the full article
Record investment income for US P&C insurers in 2023: AM Best
4th June 2024
In 2023, net investment income for the US property/casualty insurance sector reached a record $73.9 billion, boosted by higher interest rates, according to a new report by AM Best, a credit rating agency for the insurance industry. The Best's Special Report, “US P/C Insurers Achieve Record Investment Income in 2023,” reveals ... Read the full article
Heritage finalises 2024-25 catastrophe reinsurance program
30th April 2024
Heritage Insurance Holdings has announced the completion of the full placement of its 2024-2025 catastrophe excess-of-loss reinsurance program for its insurance subsidiaries: Heritage Property Casualty Insurance Company, Narragansett Bay Insurance Company, and Zephyr Insurance Company. The total cost of the program is approximately $422.3 million. Last year's $70 million of ... Read the full article
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