Reinsurance News
pandemic
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
Gallagher creates India parametric pandemic policy reinsured by Munich Re
20th October 2025
Insurance and reinsurance broker Gallagher has structured and placed a tailored risk solution for the Indian market, with The Phoenix Mills Ltd. becoming the first insured in India to be covered against business interruption losses as a result of pandemic or epidemic outbreaks based on parametric triggers. New India Assurance, India's ... Read the full article
Future pandemic could cost global economy $13.6trn: Lloyd’s
11th December 2024
The global economy could be exposed to potential losses of $13.6 trillion over a five-year period from the threat of a hypothetical future human pandemic, according to systemic risk scenario research from Lloyd's. Produced in partnership with the Cambridge Centre for Risk Studies, this research is designed to provide risk managers, ... 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
Reinsurance capacity crunch threatens growth in financial risks sector, says Howden Re
5th September 2024
James Loggie, Managing Director of Howden Re Financial Risks, emphasises a critical need for growth in the reinsurance market to match rising demand. Despite the stability and strong performance of the financial risks sector post-pandemic, the reinsurance market faces urgent pressure to expand. In a recent interview with Reinsurance News around ... Read the full article
BI insurance may see a period of growth and stability, says GILC
19th January 2023
Gillian Davidson, Global Insurance Law Connect's (GILC) Chair and a Partner at Sparke Helmore, has suggested that the outlook for business interruption insurance as a class is more positive than it has been for some years, and could, at last, see a period of growth and stability. The comments are part ... Read the full article
Vermont Supreme Court allows shipbuilder’s COVID BI case to proceed: report
26th September 2022
The Vermont Supreme Court has revived a military shipbuilder’s lawsuit for insurance coverage of lost income and extra expenses incurred during the COVID-19 pandemic, says a report from Reuters. The majority in a 3-2 split said Huntington Ingalls Industries (HII) had cleared the state’s “extremely low bar” for initial pleadings by ... Read the full article
Augmented reality invaluable to insurers in post-pandemic world: GlobalData
24th August 2022
According to leading data and analytics company GlobalData, augmented reality (AR) is set to become a $152 billion market by 2030, and its use cases for the insurance sector are only growing. The company notes that the technology’s demand among insurers has been catalysed by COVID-19 and the need for remote ... Read the full article
US life insurers’ commercial mortgages stable amid growing headwinds: Fitch
15th August 2022
A recent Fitch Ratings report has said U.S life insurers’ commercial mortgage fundamentals have largely recovered since the pandemic, with stable property outlooks for hotel, office retail, and multifamily sectors. The Federal Reserve’s monetary tightening and the current recession will pressure some sectors of commercial mortgages over the midterm, with high ... Read the full article
Insurers may face exposures from surging housing market: Swiss Re
11th August 2022
A new report from the Swiss Re Institute states a record high in housing prices accompanied by inflated household debt has created an increasingly challenging market. Insurers are warned to carefully manage their business and investment risk exposure. Surging interest rates are making new house purchases less affordable and increasing mortgage ... Read the full article
Reinstatement of COVID BI case has potential to set a ‘worrying precedent’
19th July 2022
The recent ruling by a California court of appeal to reverse a lower court's dismissal and reinstate a COVID-19 related business interruption (BI) lawsuit filed against a division of global insurer Allianz, has the potential to set a "worrying precedent", according to analysts at Jefferies. Last week, Division Seven of California's ... 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
No adjustment to IAG’s provision for business interruption losses
23rd March 2022
Australian insurer IAG has said that at this time, there will be no adjustments to its $1.222 billion net provision for potential business interruption claims related to the COVID-19 pandemic. As we reported yesterday, numerous insurers and reinsurers are seeking to contest the verdict of Australia’s pandemic test case and ... Read the full article
Re/insurers to appeal Australia’s pandemic test case verdict
22nd March 2022
A number of major insurers and reinsurers, including Swiss Re, IAG and Chubb, are seeking to contest the verdict of Australia’s pandemic test case in the country’s High Court. These insurers and others filed documents for an appeal on Monday, according to reports from The Australian, as did two insured businesses ... Read the full article
RGA’s full year net income rises despite $1.4bn in COVID-19 claims
4th February 2022
U.S life reinsurance company, Reinsurance Group of America (RGA), has reported net income of $617 million for the full year 2021 in spite of pre-tax COVID-19 claims of around $1.4 billion. Year-on-year, RGA's 2021 net income swelled by more than 48%, while operating income fell dramatically, from $496 million in 2020 ... Read the full article
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