Reinsurance News
pandemic risk
Munich Re launches pandemic consortium with parametric focus at Lloyd’s
3rd February 2026
Munich Re Specialty – Global Markets, Syndicate, managing agent of Syndicate 457 at the Lloyd's insurance and reinsurance marketplace, has established The Pandemic Consortium, designed to offer parametric catastrophic communicable disease insurance. The consortium, a Lloyd's market initiative based in London, will offer a proactive emerging risk transfer solution to protect ... Read the full article
Antimicrobial resistance, a challenge that needs multi-sector cooperation: Swiss Re
27th September 2024
Antimicrobial resistance (AMR), referred to as "the silent pandemic” by World Health Organisation (WHO), is an evolving risk with the potential to severely disrupt healthcare systems worldwide; a challenge that needs increased awareness and cooperation across sectors, Swiss Re’s Paul Murray has highlighted. Unlike COVID-19, “a pandemic that shouted in our ... Read the full article
Munich Re partners with International SOS to enhance pandemic coverage
19th October 2023
Global reinsurance giant Munich Re has partnered with International SOS, a leading health and security firm, to develop an integrated epidemic and pandemic risk management policy solution. Through this new partnership between the two organizations, International SOS will now provide health advisory services to Munich Re’s pandemic policyholders. Moreover, the pandemic insurance ... Read the full article
Monkeypox outbreak not a significant event for re/insurers: SCOR
15th July 2022
Global reinsurer SCOR has said it does not expect the recent monkeypox virus outbreak to cause a significant impact for re/insurers. This is due to the fact that monkeypox has relatively low mortality and morbidity rates and the existing protection among certain groups of the population, SCOR noted. People vaccinated against smallpox ... Read the full article
Cyber the top concern for businesses in 2022: Allianz
18th January 2022
Cyber perils are viewed as the top concern for businesses globally in 2022, as natural catastrophe and climate change risks climb the rankings of the latest Allianz Risk Barometer. With 44% of respondents citing cyber incidents as their biggest concern, largely driven by the threat of ransomware attacks, the peril claimed ... Read the full article
Rep. Maloney reintroduces Pandemic Risk Insurance Act of 2021
9th November 2021
New York Congresswoman Carolyn Maloney reintroduced the Pandemic Risk Insurance Act of 2021 (PRIA) on November 2nd, paving way for the creation of the Pandemic Risk Reinsurance Program, designed to protect businesses of all shapes and sizes from the impacts of future pandemics. Rep. Maloney, alongside various stakeholders, first introduced ... Read the full article
Proposed AXA settlement would reduce BI uncertainty: Moody’s
11th June 2021
AXA France's proposed €300 million settlement offer to thousands of restaurant clients who hold non-damage business interruption (BI) policies would reduce the uncertainty related to the ultimate financial burden of COVID-19 BI claims, says Moody's analyst Benjamin Serra. Yesterday, global insurance company AXA announced a proposal to settle with 15,000 ... Read the full article
Hedging the next pandemic: Register for live webcast
19th May 2021
Our insurance-linked securities (ILS) focused sister site, Artemis, has partnered with Vesttoo to explore opportunities to hedge the next global pandemic via the use of parametric risk transfer, enabled by advanced data and technology. Register online here to secure your place at this free live webcast event. Following ... Read the full article
COVID-19 uncertainty remains a key risk for 2021: Munich Re CFO
6th May 2021
While the global vaccination effort is enabling parts of the world to open up and providing people with vital protection against COVID-19, all of which means reduced exposure for re/insurers, uncertainty remains for both the months ahead and the 2020 run-off, according to Christoph Jurecka, Chief Financial Officer (CFO) at ... Read the full article
Re/insurers’ public COVID-19 losses hit $23.7bn with more to come in Q3 & Q4
26th October 2020
Publicly recorded COVID-19-related losses among the largest global re/insurance companies have reached USD 23.7 billion, with further increased loss estimates anticipated for both the third and fourth quarters, according to analysis by Zurich-based financial services advisory, PeriStrat LLC. Losses related to the ongoing pandemic continue to trend upwards, and with Q3 ... Read the full article
Parametric triggers the solution to pandemic backstop: Third Point Re’s Tracey Gibbons
19th October 2020
While it is clear that the enormous risks posed by future pandemics can only be tackled through public-private partnerships, the solutions proposed so far fail to fully contend with the scope and complexity of a global systemic threat of this nature. This is where parametric triggers come in, says Third Point ... Read the full article
Munich Re endorses state-backed pools for pandemic risk
8th September 2020
Munich Re has argued that pandemic risks are “not insurable by the private sector alone” and has endorsed the use of state-backed risk pools to mitigate their impact. The reinsurer notes that the coronavirus pandemic has highlighted how vulnerable the world still is to very large risks, and says that more ... Read the full article
Amid COVID-19, the opportunities & possibilities are substantial for reinsurers: Pyrrhic Re CEO
12th June 2020
Although likely to be more challenging for the reinsurance sector than any other market event since 1986, the COVID-19 pandemic represents enormous opportunities and possibilities for the industry, according to Peter Mills, Chief Executive Officer (CEO) and Founder of Pyrrhic Re. A pure-reinsurance Managing General Agency (MGA) writing a diverse book ... Read the full article
Pandemic Re Steering Group establishes Project Committee & working groups
1st June 2020
The Pandemic Re Steering Committee, launched to propose an industry response to both the UK Government and the country for future pandemics, has established a Project Committee and six working groups. The newly formed Project Committee will be led by Michael Dawson of Nuclear Insurance as Chair, who will also be ... Read the full article
Higher margins may offset fading investment income for major reinsurers: Fitch
29th May 2020
The financial earnings of the big four European reinsurers will be affected negatively by the COVID-19 pandemic in the short-term, but moving forward, improved technical pricing could largely offset fading investment returns, according to Fitch Ratings. As evidenced by first-quarter 2020 results, the financial impact of the COVID-19 pandemic for the ... Read the full article
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