Reinsurance News
Losses
News on catastrophe and man-made losses that impact or could impact the reinsurance industry and reinsurers around the globe.
Aon estimates insured & economic losses from ‘historic’ winter storm to top $1bn
30th January 2026
Aon has revealed that total economic and insured losses will likely exceed $1 billion from the historic winter storm that severely impacted a large part of the United States and eastern Canada on January 23-26. Providing some meteorological background for the event, Aon explained that on January 23, a deep, elongated ... Read the full article
BMS expects Winter Storm Fern to drive hundreds of millions in insured losses
28th January 2026
The January 2026 winter storm impacting a large swath of the US (labelled Fern by The Weather Channel) has set various records across winter weather perils and is expected to generate several hundreds of millions of dollars in insured losses, according to independent re/insurance broker BMS. Winter Storm Fern has affected ... Read the full article
Insured losses from Victorian Bushfires cross AU$200m from 3,123 claims: ICA
28th January 2026
After the recent escalation from a significant event declaration to an Insurance Catastrophe, the Insurance Council of Australia (ICA) has confirmed that insured losses from the devastating Victorian bushfires have crossed AU$200 million across 3,123 claims. This claims count includes property, motor, commercial, and business interruption claims, with 30% of ... Read the full article
Major risk conditions hinge on crystallisation of 2025 aviation claims: Howden Re
26th January 2026
Following the 1 January 2026 renewals, the future direction of major risk market conditions will likely be determined by the final amount of losses incurred in 2025, according to Howden Re’s Aviation & Space Treaty team. After a period of relatively modest major risk airline losses, a number of high-profile claims ... Read the full article
Extreme weather in Australia costs insurers $3.5bn in 2025: ICA
23rd January 2026
According to new data from the Insurance Council of Australia (ICA), extreme weather events have resulted in almost $3.5 billion in insured losses from 264,000 claims in 2025. Of these losses, the costliest was Ex-Tropical Cyclone Alfred, which accounted for 132,000 claims and more than $1.5 billion in insured losses. Severe hailstorms ... 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
Insured losses from catastrophic events across Canada total $2.4bn in 2025: CatIQ
21st January 2026
CatIQ, a Toronto-based independent catastrophe insurance data provider and subsidiary of PERILS, has announced that insured losses from catastrophic events experienced across Canada totalled CAD 2.4 billion in 2025. According to the Institute for Catastrophe Loss Reduction (ICLR), uninsured losses amounted to a further $1.0 billion, bringing total societal losses for ... Read the full article
Global insured nat cat losses fall YoY but again exceed $100bn in 2025: Munich Re
13th January 2026
Although $244 billion in total global losses for natural disasters in 2025 is lower than the 10-year average, insured losses once again exceeded $100 billion at $108 billion, according to Munich Re, one of the world's leading reinsurance companies. 2025 joins the growing list of years with insured losses exceeding the ... Read the full article
Sri Lankan insurers’ cyclone losses limited, reinsurers to absorb most non-motor losses: Fitch
18th December 2025
Fitch Ratings expects most Sri Lankan insurers' losses from Cyclone Ditwah flooding to be limited due to low non-motor retention and reinsurance. However, the National Insurance Trust Fund Board (NITF), the country's sole local reinsurer, is more exposed to losses due to a lack of retrocession. The agency expects the sector’s underwriting ... Read the full article
2025 insured nat cat losses to exceed $100bn but down 24% year-on-year: Swiss Re
16th December 2025
2025 insurance and reinsurance industry losses from natural catastrophes are expected to exceed $100 billion for the sixth consecutive year, but at an estimated $107 billion, the total is 24% lower than the $141 billion seen in 2024, and 3% below the 10-year average of $111 billion, according to Swiss ... Read the full article
2025 marks fifth year in a row of $100bn+ cat claims, less damaging for reinsurers: J.P. Morgan
8th December 2025
2025 will mark the fifth consecutive year in which global catastrophe claims have exceeded $100 billion, but this has been less damaging for reinsurers due to a shift in who is responsible for paying claims, with reinsurers remaining in line with or below their catastrophe loss budgets in recent years, ... Read the full article
Hong Kong fire to add pressure to P&C sector’s earnings: S&P
4th December 2025
A new review by S&P Global Ratings notes that losses from the recent destructive fire at a Hong Kong residential complex are likely to further strain the underwriting performance of the territory’s property and casualty (P&C) insurance industry. Hong Kong’s P&C sector is expected to see its net combined ratio rise ... Read the full article
Reinsurers expected to shoulder most of $200m loss from Hong Kong fire: AM Best
2nd December 2025
According to ratings agency AM Best, a material portion of the gross incurred loss, which may exceed $200 million from the deadly Hong Kong apartment (Wang Fuk Court) fire, is expected to be transferred to reinsurers. Primary insurers operating in the region typically rely on a mix of reinsurance arrangements, including ... Read the full article
US SCS losses reach $42bn, establishing a “new normal”: Moody’s
21st November 2025
Insured losses related to US severe convective storms (SCS) reached $42 billion in the first nine months of 2025, with average per-event costs 31% higher than the previous decade’s average, establishing a “new normal” for extreme weather, according to a recent Moody’s analysis. SCS, characterised by winds exceeding 58 MPH, hail ... Read the full article
Munich Re estimates mid-triple digit million EUR loss from Hurricane Melissa
11th November 2025
Despite it still being early days, Christoph Jurecka, Chief Financial Officer at Munich Re, has estimated that the firm's losses related to Hurricane Melissa will reach the mid-triple-digit million-euro range. During Munich Re’s Q3 2025 earnings call, Jurecka said, “Melissa, our current assumption is that it will be a mid-triple ... Read the full article
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