Reinsurance News
natural catastrophes
Re/insurance remains a stabilising force amid major global disruption: Swiss Re
8th September 2025
Re/insurance remains a stabilising force in the face of major global disruptions, absorbing shocks and supporting economic recovery, according to industry giant Swiss Re. As the global re/insurance industry meets for the 2025 Rendez-Vous de Septembre in Monte Carlo, Swiss Re believes rising natural catastrophe, geopolitical uncertainty, and adoption of Artificial ... Read the full article
Tonga renews parametric reinsurance with PCRIC to boost disaster resilience
18th July 2025
The Kingdom of Tonga has strengthened its disaster risk financing by renewing its parametric reinsurance policies with the Pacific Catastrophe Risk Insurance Company (PCRIC), which includes a significant increase in the government’s premium contribution, from USD 125,000 to USD 1 million. This renewed policy is expected to provide comprehensive coverage of ... Read the full article
Hail responsible for 55% of solar PV weather claims in North America: AXIS Capital
11th July 2025
A new report from AXIS Capital Holdings Limited reveals that hail accounts for 55% of the total gross claims related to natural catastrophes and extreme weather for solar photovoltaics (PV) in the US and Canada. AXIS's Global Energy team has published a report, "Solar vs. Hail Pivoting Away From Danger", to ... Read the full article
Re/insurers better positioned to withstand above average 2025 hurricane season: Fitch
2nd June 2025
Re/insurers are better positioned to withstand the 2025 hurricane season and other potential catastrophic events, thanks to recent premium rate increases, surplus growth among property and casualty (P&C) insurers, and favourable legislative reforms in the Florida market, according to Fitch Ratings. As per Fitch's new report, the number of hurricanes for ... Read the full article
May severe weather outbreaks could rank among costliest in US history: Aon
22nd May 2025
Given the widespread tornado, hail, and wind damage across the central and eastern United States, Aon has suggested that the May 14–17 outbreak could rank among the costliest severe weather events in U.S. history when adjusted for inflation. In a new report, Aon examined the meteorological drivers and impacts of two ... Read the full article
Premiums set to rise unless governments act on climate risk, says Zurich
29th April 2025
With the costs from extreme weather and natural catastrophes rising, Zurich Insurance has released a report highlighting the urgent need for action from governments, insurers, and communities to collaboratively build climate resilience. According to the firm's report, the past decade has seen $2 trillion in economic losses due to extreme weather ... Read the full article
ICEYE launches new hurricane data solution
31st March 2025
ICEYE, a provider of satellite-based disaster management solutions, has launched a hurricane data solution, providing insurers with impact information from both wind and flooding within 24 hours of a hurricane making landfall in the US. "Using high-resolution satellite imagery, ground-based data sensors, and auxiliary information, the solution delivers damage data across ... Read the full article
Multiple factors hinder insurance protection gap collaboration, reveals poll
7th March 2025
In 2024, economic losses from natural disasters exceeded $300 billion for the ninth consecutive year, and while insured losses were also high, the persistent protection gap, estimated at 60%, underscores the urgent need for comprehensive solutions in both developed and emerging markets. Analysts emphasize that collaborative efforts are paramount to effectively ... Read the full article
SACE to provide reinsurance backing for nat cat coverage in Italy
5th March 2025
SACE, the Italian insurance and financial group wholly owned by the Italian Ministry of Economy and Finance, has announced that it will provide reinsurance at market conditions, covering indemnities of up to 50%, with a total cap set by the 2024 Budget Law at €5 billion for 2025. For those unaware, ... Read the full article
Mandatory nat cat cover in Italy a credit positive for P&C sector: Moody’s
3rd March 2025
Moody’s Ratings has suggested that the new obligation for companies in Italy to take out insurance policies covering natural catastrophes risk is credit positive for the P&C insurance sector. The Italian government recently published an interministerial decree in the Official Journal, setting out further rules for mandatory insurance against natural disasters ... Read the full article
S&P expects reinsurers to produce strong results in 2024-2025 amid still-favourable pricing
30th January 2025
S&P Global Ratings, a provider of credit ratings, research, and risk analysis, has provided a comprehensive review of the global reinsurance sector, forecasting promising earnings for the industry over the next couple of years. The report outlines a stable outlook for the reinsurance sector, citing strong operational performance and robust capitalisation, ... Read the full article
Canada’s total catastrophe insured losses reach record $8.5bn in 2024: CatIQ
13th January 2025
Total insured losses from catastrophic events across Canada reached CAN $8.5 billion in 2024, marking the country's largest loss year on record, according to CatIQ, Canada’s provider of insured loss and exposure indices. This insured loss figure significantly surpassed the previous record of CAN $6.2 billion set in 2016. The total number ... Read the full article
2024 insured nat cat loss bill pegged at $140bn: Munich Re
9th January 2025
According to reinsurance giant Munich Re, natural disasters resulted in an industry loss of $140 billion in 2024, up from 2023's $106 billion, with insured losses notably higher than the inflation-adjusted averages of the past 10 and 30 years. The 2024 insured losses were the third most expensive year since 1980, ... Read the full article
Insured losses from nat cats to exceed $135bn in 2024: Swiss Re
5th December 2024
With the US enduring two major hurricanes and numerous severe thunderstorms in 2024, it has contributed to at least two-thirds of the estimated global insured losses for the year, which exceed $135 billion, according to a new report from Swiss Re. Hurricane Helene, which made landfall on the 27th of September, ... Read the full article
Insurers’ reaction to cat events could impact issuer and instrument credit quality: S&P
22nd November 2024
The overall ability of insurance to offset financial risks stemming from catastrophic events, including climate-related events, is relevant to the creditworthiness of issuers and debt instruments outside of the insurance sector, according to S&P Global Ratings. In a new report released by the firm, it states how insurers do not “bear the ... Read the full article
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