Reinsurance News
NFIP
FEMA saw 50% rise in number of participating reinsurers for 2025 NFIP renewal
4th December 2025
The U.S. Federal Emergency Management Agency (FEMA) has now reported the participants on the National Flood Insurance Program's (NFIP) reinsurance placement for 2025, with a 50% increase in the number of participants when compared with the previous year. In January, FEMA reported that it lifted the NFIP's reinsurance coverage for ... Read the full article
US government shutdown stalls flood insurance renewals, leaving homeowners at risk: AM Best
14th October 2025
According to a new report from the credit rating agency AM Best, the ongoing US government shutdown has halted the ability of a key federal agency to renew existing flood insurance policies or issue new ones under the National Flood Insurance Program (NFIP), potentially affecting millions of homeowners as the ... Read the full article
Private flood market ready and better prepared to manage risks: Neptune Flood
9th October 2025
A new report from Neptune Flood has suggested that the National Flood Insurance Program (NFIP) continues to assume risks the private market is “ready and better prepared” to handle, with roughly 95% of new policyholders eligible for private coverage. "For more than 50 years, the private insurance industry was unable to ... Read the full article
Neptune Flood proposes roadmap to shift NFIP policies to private market
18th February 2025
Neptune Flood, a provider of private flood insurance in the United States, has unveiled a roadmap for transitioning National Flood Insurance Program (NFIP) policies to the private market, in order to reduce the government’s financial exposure to flood risk. In its latest report, Neptune Flood found two main structural issues that ... Read the full article
FEMA lifts NFIP’s Helene loss estimate to up to $7.4bn
12th February 2025
The U.S. Federal Emergency Management Agency (FEMA) has estimated the range for total losses paid by the National Flood Insurance Program (NFIP) stemming from Hurricane Helene to be between $6.4 and $7.4 billion, based on data as of January 31st, 2025. FEMA has reported that as of February 6th, 2025, Hurricane ... Read the full article
FEMA lifts NFIP reinsurance coverage at renewal
16th January 2025
The U.S. Federal Emergency Management Agency (FEMA) transferred $757.835 million of the NFIP's financial risk to the private reinsurance market at its renewal for a total premium of $139.9 million, as the number of participating reinsurers increased year-on-year. The 2025 reinsurance placement covers 12.0334% of NFIP losses between $7 billion and ... Read the full article
NFIP’s Helene loss nears lower layer of its traditional reinsurance at $6.75bn
14th January 2025
The U.S. Federal Emergency Management Agency (FEMA) has raised its estimate for National Flood Insurance Program (NFIP) losses from hurricane Helene to $6.75 billion, which is near the lower layer of its 2024 traditional reinsurance coverage, as reported by our insurance-linked securities (ILS) focused sister publication, Artemis. Back in November, ... Read the full article
Private insurers uniquely positioned to close US flood coverage gap: Neptune Flood
24th December 2024
In a new report analysing the U.S. residential flood insurance market, Neptune Flood has underlined the critical role private insurers can play in addressing the nation’s growing flood coverage gap. According to the firm's research, more than 20 million homes in the U.S. face moderate to severe flood risk, yet only ... Read the full article
NFIP claims paid for hurricane Helene flood losses rise to more than $1.4bn
3rd December 2024
The U.S. Federal Emergency Management Agency (FEMA) has reported that as of November 12th, 2024, more than 56,000 policyholders have filed claims following the landfall of hurricane Helene, with National Flood Insurance Program (NFIP) payments to policyholders for flood losses from the storm now above $1.4 billion. In late October, FEMA ... Read the full article
Flooding risk presents major credit challenges for Eastern and Southern US: Moody’s
27th November 2024
Destructive flooding recently caused by hurricane Helene highlights an increasing flood risk for local economies and tax bases, notably across the Eastern and Southern United States, says Moody's Ratings. However, according to analysts, as coastal and inland flooding events are beginning to become more frequent and severe, this growing hazard poses ... Read the full article
Total NFIP losses from 2024 flood events could reach $10.5bn: Neptune
14th November 2024
US private flood insurer Neptune Flood reports that the National Flood Insurance Program's (NFIP) estimated losses from 2024 flood events, including Hurricanes Helene and Milton, as well as Hurricanes Beryl, Debby, and Francine, could reach up to $10.5 billion. Hurricane Helene has been especially impactful for the NFIP, with over 55,000 ... Read the full article
FEMA pegs NFIP losses from hurricane Helene at $3.5bn to $7bn
13th November 2024
The U.S. Federal Emergency Management Agency (FEMA) has said that Hurricane Helene could drive National Flood Insurance Program (NFIP) claims of up to $7 billion, including loss adjustment expenses, with more than 55,000 flood loss claims reported to the NFIP as of November 7th, 2024. Currently, the NFIP has paid roughly ... Read the full article
More than 72,000 NFIP claims filed in Florida from hurricanes Debby, Helene and Milton: FEMA
11th November 2024
The U.S. Federal Emergency Management Agency (FEMA) confirmed on November 8th, 2024, that more than 72,000 claims had been filed by National Flood Insurance Program (NFIP) policyholders who experienced flood damage from hurricanes Debby, Helene, and Milton in Florida. As of last Friday, NFIP policyholders had received around $894 million to ... Read the full article
54,000 NFIP flood insurance claims filed for Hurricane Helene: FEMA
28th October 2024
So far, policyholders of the National Flood Insurance Program (NFIP) have filed more than 54,000 claims following Hurricane Helene, the U.S. Federal Emergency Management Agency (FEMA) has reported. Helene was the sixth named storm of the 2024 Atlantic hurricane season and the fourth to make landfall in the U.S. It struck ... Read the full article
Hurricane Helene unlikely to impact FHCF or Citizens ratings, but may trigger NFIP reinsurance: Fitch
3rd October 2024
Hurricane Helene is not likely to affect credit ratings for property & casualty re/insurers, Citizens Property Insurance or the Florida Hurricane Catastrophe Fund (FHCF), but could trigger the National Flood Insurance Program's (NFIP) catastrophe reinsurance, according to Fitch Ratings. The global rating agency has based its assessment on an initial estimate ... Read the full article
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