Reinsurance News
Losses
News on catastrophe and man-made losses that impact or could impact the reinsurance industry and reinsurers around the globe.
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
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
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