Reinsurance News
Losses
News on catastrophe and man-made losses that impact or could impact the reinsurance industry and reinsurers around the globe.
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
Allstate estimates $213m in catastrophe losses for August
18th September 2025
The Allstate Corporation, a provider of personal property and casualty insurance in the US, has estimated catastrophe losses of $213 million, or $168 million after tax, for the month of August. The losses included 10 events, with approximately 70% attributable to three wind and hail events. By comparison, Allstate estimated higher ... Read the full article
Average annual insured losses from nat cats rise to $152bn: Verisk
2nd September 2025
The global modelled insured average annual property loss (AAL) from natural catastrophes has increased to $152 billion, according to the latest annual report from Verisk’s Extreme Event Solutions business. This means that the insurance industry should now be prepared for total annual insured property losses from natural catastrophes that far exceed ... Read the full article
Allstate estimates $184m in catastrophe losses for July
21st August 2025
The Allstate Corporation, a provider of personal property and casualty insurance in the US, has estimated catastrophe losses of $184 million or $145 million, after-tax for July. The company reported that the cat losses stemmed from 19 wind and hail events. By comparison, estimated catastrophe losses for July 2024 were much ... Read the full article
CatIQ lowers Hurricane Debby flood loss estimate in Ontario & Quebec to CAD 2.8bn
12th August 2025
CatIQ, a provider of industry-wide catastrophe insurance data and a subsidiary of PERILS, has released its fifth industry loss estimate for the extensive flooding in Ontario and Quebec caused by the remnants of Hurricane Debby between 9 and 10 August 2024. The fifth estimate, which provides a snapshot of the insurance ... Read the full article
CatIQ raises 2024 Calgary hailstorm industry loss estimate to CAD 3.29bn
6th August 2025
CatIQ, a Toronto-based independent catastrophe insurance data provider and subsidiary of PERILS, has released its fifth industry loss estimate for the hailstorm that affected Calgary, Alberta, on 5th August 2024, raising the total to CAD 3.29 billion. This marks a slight increase from the fourth estimate, issued six months after the ... Read the full article
Insured losses in 2025 could exceed $150bn following costly H1: Swiss Re
6th August 2025
The Swiss Re Institute has revealed that global insured losses from natural catastrophes hit $80 billion in H1 2025, which is almost double the 10-year average and more than half of the firm's projected full-year figure of $150 billion. According to the Swiss Re Institute, the Los Angeles County wildfires in January ... Read the full article
$80bn in H1’25 insured losses marks second-highest on record
29th July 2025
Reinsurance giant Munich Re has estimated that global insured losses from natural catastrophe events reached $80 billion in H1 2025, marking the second-highest H1 figure since its records began in 1980. The $80 billion in insured losses during H1 2025 compares to $64 billion in H1 2024 and is surpassed only ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
