Reinsurance News
Losses
News on catastrophe and man-made losses that impact or could impact the reinsurance industry and reinsurers around the globe.
Ambac’s insurance distribution segment reports 40% rise in organic revenue growth for Q3’25
11th November 2025
Insurance holding company Ambac Financial Group, Inc. has reported organic revenue growth of 40% in its Insurance Distribution segment, as total revenue grew by 80% to $43 million for the quarter, compared to $24 million in Q3’24. For the Insurance Distribution segment, the net loss to shareholders is reported at $5 ... Read the full article
Moody’s RMS expects Hurricane Melissa’s private market insured losses between $3-5bn
7th November 2025
Catastrophe risk modeller Moody's RMS Event Response has estimated private market insured losses driven primarily by wind impacts in Jamaica, with minimal contributions from other impacted Caribbean islands, including the Bahamas, Haiti, and the Turks and Caicos Islands, from Hurricane Melissa to range between $3-5 billion. Moody's best estimate of insured ... Read the full article
Insured losses from Hurricane Melissa impacts in Jamaica and Cuba to hit $2.4bn: KCC
6th November 2025
The privately insured loss from Hurricane Melissa damages to residential, commercial, and industrial properties in Jamaica and Cuba is expected to hit $2.4 billion, based on Karen Clark & Company's (KCC) high-resolution Caribbean Hurricane Model. Catastrophe risk modeller KCC explained that despite this storm devastating parts of Jamaica and Cuba, the ... Read the full article
Cotality estimates total insured losses from Hurricane Melissa at $1.5bn
6th November 2025
Cotality has estimated that total insured losses from Hurricane Melissa, which recently devastated Jamaica, will be around $1.5 billion, within a range of $1 billion to $2.5 billion, while total property damage from wind, storm surge, and flooding is expected to range between $5 billion and $9 billion. It is important ... Read the full article
Verisk estimates Hurricane Melissa insured losses could reach $4.2bn
3rd November 2025
The Extreme Event Solutions group at Verisk has estimated that industry insured losses to onshore property in Jamaica from Hurricane Melissa will likely range from $2.2 billion to $4.2 billion. The global data analytics and technology firm provided a meteorological context for the event, noting that Melissa became a hurricane on ... Read the full article
Legal System abuse drives decade-long surge in liability insurance losses: Triple-I
3rd November 2025
A new study by the Insurance Information Institute (Triple-I), an organisation providing data and analysis on insurance issues, and the Casualty Actuarial Society (CAS), a professional group for actuaries specialising in property and casualty insurance, finds that legal system abuse (LSA) and related litigation trends have significantly impacted liability insurance. The ... 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
Losses caused by Hurricane Melissa to reach single-digit billions USD in the Caribbean: Aon
31st October 2025
With extensive damage from the impacts of Hurricane Melissa seen across the Caribbean, insurance and reinsurance broker Aon warns that total economic and insured losses could land in the single-digit billions of USD, and potentially higher after future damage assessments in the countries hit by one of the most intense ... Read the full article
AM Best expects most losses from Hurricane Melissa to fall on reinsurers
29th October 2025
According to AM Best, insured losses from Category 5 Hurricane Melissa in Jamaica are anticipated to remain modest, however, the bulk of these losses is expected to fall on reinsurers, reflecting the high reinsurance dependence of Caribbean-based carriers. Hurricane Melissa made landfall yesterday in Jamaica, becoming the first storm of Category ... Read the full article
Economic impact of Melissa could reach 30–250% of Jamaica’s GDP: BMS
29th October 2025
BMS has warned that the total economic impact of Hurricane Melissa could reach 30–250% of Jamaica’s GDP, potentially triggering a deep recession, widespread unemployment, a sharp decline in tourism, and severe strain on local banks and insurers, placing heavy pressure on public borrowing to fund recovery efforts. After making landfall near ... Read the full article
Q3’25 insured losses lowest since 2006 as protection gap narrows: Aon
16th October 2025
According to Aon’s Q3 2025 global catastrophe report, insured losses totalled $12 billion for the quarter, 72% below the century average and the lowest since 2006, while year-to-date losses reached $114 billion, 37% above the century average, driven by 22 billion-dollar insured loss events. Aon said global economic losses reached $34 ... Read the full article
Global cat losses ease in 2025, yet annual volatility persists: Gallagher Re
15th October 2025
Global reinsurance broking and advisory firm Gallagher Re has suggested that, despite the "manageable nature" of catastrophe activity this year so far, the industry should continue to expect annual volatility in losses in the future. According to the firm's Q3 2025 Natural Catastrophe and Climate Report, global natural catastrophe activity remained ... Read the full article
Australia sees 25% decrease in nat cat insured losses in 2024-25: ICA
7th October 2025
Over the 12 months to 30 June 2025, Australia saw a 25% decrease in total insurance losses from natural catastrophe events, falling from $2.61 billion in 2023–24 to $1.97 billion in 2024–25, according to the Insurance Council of Australia (ICA). Data from the ICA’s latest report shows a notable reduction in ... Read the full article
CatIQ lifts Ontario & Quebec ice storm loss estimate to CAD 490m
30th September 2025
CatIQ, a Toronto-based independent catastrophe insurance data provider and subsidiary of PERILS, has released its fourth industry loss estimate for the ice storm that affected Ontario and Quebec from March 28 to 31, 2025, raising losses to CAD 490 million. The event involved a prolonged period of wintry precipitation across southern ... Read the full article
PERILS places final industry loss estimate for 2024 Central Europe floods at €2.15bn
22nd September 2025
Zurich-based catastrophe insurance data provider PERILS has released its fourth and final insurance industry loss estimate for the floods that struck Central Europe and Italy between September 14 and 20, 2024, totalling €2.153 billion. The final figure compares with PERILS’ earlier loss estimates of €2.192 billion, €2.080 billion, and ... Read the full article
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