Reinsurance News
Losses
News on catastrophe and man-made losses that impact or could impact the reinsurance industry and reinsurers around the globe.
US cat risk reshaped as wildfire and storms define 2025 loss profile: Swiss Re
1st May 2026
With Swiss Re Institute analysis highlighting that ~99.9% of insured natural catastrophe losses in North America in 2025 were driven by secondary perils such as wildfires and severe convective storms (SCS), Monica Ningen, CEO of Property & Casualty Reinsurance US at Swiss Re, has said the year is “another clear ... Read the full article
PERILS lowers Australia east coast SCS loss estimate to AUD 1.502bn
1st May 2026
PERILS, the Zurich-based catastrophe insurance data provider, has disclosed its third industry loss estimate for the Australia East Coast Severe Convective Storms (SCS) of late October 2025, placing the loss at AUD 1.502 billion. The event impacted the states of Queensland, New South Wales and Victoria between 26th October and 1st ... Read the full article
Insured losses from extreme weather jump 727% to AUD 4.8bn in 2025: ICA
21st April 2026
The latest analysis by the Insurance Council of Australia (ICA) has disclosed that extreme weather increased insured losses by 727% in 2025 to AUD 4.8 billion as claim numbers climbed to 294,000, of which over AUD 4.1 billion came from Queensland alone. The ICA’s last extreme weather media release noted 2025 ... Read the full article
Gallagher Re sets $115bn–$125bn loss threshold for meaningful pricing shift
21st April 2026
A new Gallagher Re report has suggested that a single event, or a series of large events, resulting in an insured loss of $115 billion to $125 billion above expected average annual catastrophe losses, would be required to meaningfully impact the trajectory of pricing in the property re/insurance industry. The finding ... Read the full article
Flooding and SCS drive Q1’26 losses as global protection gap narrows: Aon
17th April 2026
Aon's latest Global Catastrophe Recap has revealed that flooding and severe convective storms (SCS) caused the highest economic losses during Q1 2026, with SCS highlighted as the most damaging peril for insurers. The report, which analysed global natural catastrophe activity during the first quarter of the year, found that insured losses ... Read the full article
Allstate estimates $1.24bn Q1’26 cat losses with March contributing $925m
17th April 2026
The Allstate Corporation, a provider of personal property and casualty insurance in the US, has announced its estimated catastrophe losses for the first quarter of 2026, totalling $1.24 billion, or $980 million, after-tax. While the figure represents a significant impact from severe weather events, it marks a significant improvement over Read the full article
PERILS raises industry loss estimate for Victoria Bushfires to AU$810m
13th April 2026
PERILS, the Zurich-based catastrophe insurance data provider, has lifted its second insurance industry loss estimate for the Victoria Bushfires, which took place from January 7th to 13th, 2026, to AU$810 million. These fires destroyed 900 buildings, including 330 homes, and impacted infrastructure, with over 20,000 livestock lost, and tragically, resulted in ... Read the full article
PERILS lifts insurance market loss for windstorm Goretti to €479m
9th April 2026
Zurich-based catastrophe insurance data provider PERILS has disclosed its second industry loss estimate for extratropical windstorm “Goretti”, also known as “Elli”, placing the insurance market loss at €479 million. The loss estimate, which covers the property and motor lines of business and is based on loss data collected from affected insurers, ... Read the full article
CatIQ lowers final Ontario & Quebec ice storm loss estimate to CAD 466m
2nd April 2026
CatIQ, a Toronto-based independent catastrophe insurance data provider and subsidiary of PERILS, has released its fifth and final industry loss estimate for the ice storm that affected Ontario and Quebec between 28th and 31st March 2025, decreasing losses to CAD 466 million. The event involved a prolonged period of wintry precipitation ... Read the full article
Total losses from March Kona Storms in Hawaii said to be at least $1bn: Aon
27th March 2026
According to global insurance and reinsurance broking group Aon’s weekly catastrophe report, back-to-back Kona Storms on March 10-24, which produced extreme rainfall and subsequent flooding across much of Hawaii, will result in total economic and insured losses of at least one billion US dollars, citing Hawaii government officials. Aon's report explains ... Read the full article
PERILS releases initial industry loss estimate of €586m from extratropical windstorm Nils
27th March 2026
PERILS, a Zurich-based catastrophe insurance data provider, has disclosed its initial industry loss estimate for the extratropical windstorm “Nils”, also known as “Ulrike”, noting the event has cost the insurance industry a total of €586 million. The storm, which peaked on February 12, 2026, combined destructive winds and intense rainfall. As France ... Read the full article
Hailstorms now rival Cat 4 hurricanes in financial losses: Cotality
25th March 2026
Hail has now become a leading driver of insured losses, with modern storms now able to cause financial losses comparable to a Category 4 hurricane, a recently published Cotality report has revealed. For insurers and reinsurers, this shift demands a move away from historical data averages toward property-specific modelling. Ultimately, the entire ... Read the full article
US SCS losses accelerate as second $1bn event emerges in same week: Gallagher Re
20th March 2026
A new Gallagher Re report has indicated that the March 15–16 severe convective storm (SCS) outbreak is on track to become the second U.S. SCS event of the year to generate more than $1 billion in industry losses, occurring within the span of a single week, following the hail and ... Read the full article
Secondary perils account for 92% of global insured losses in 2025: Swiss Re
19th March 2026
Although global insured losses in 2025, at $107 billion, fell below the long-term natural catastrophe trend, secondary perils, including wildfires, severe convective storms (SCS) and floods, accounted for a record 92% of the total, according to a new report from Swiss Re Institute. Contributing $40 billion to the 2025 total, the ... Read the full article
Losses to global reinsurance market from Middle East conflict limited for now: AM Best
13th March 2026
AM Best has suggested that losses to the global reinsurance market from the ongoing conflict in the Middle East are limited so far, and would typically take the form of single large losses. AM Best's report noted that war risks are commonly excluded from policies but are offered as riders on ... Read the full article
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