Reinsurance News
Parametric insurance news
Parametric insurance and parametric reinsurance are growth areas for the industry. We cover news on many forms of parametric risk transfer to provides our readers with insights into developments in the re/insurance market related to parametric triggers.
Parametric insurance utilises catastrophe event, weather, or other data parameters to define payout structures and triggers for contracts. It is considered a fast, pre-defined payout system, with payouts coming due when a specific, objective event occurs and a pre-defined parameter is reached, rather than assessing actual physical loss like traditional indemnity insurance.
This archive features our news on the use of parametric triggers to structure insurance or reinsurance protection, as well as discussion on the benefits of parametric triggers as transparent, fast-paying trigger mechanisms for providing parametric insurance and reinsurance coverage.
Willis launches parametric flood insurance solution for UK racecourses
11th May 2026
Willis, a WTW business, has launched a new sensor-based parametric insurance solution designed to protect UK racecourses against localised flooding. The product was developed in collaboration with Previsico, Descartes Underwriting (MGA), and Generali, which will act as the insurer. In the UK, flood risk is rising, with related costs projected to increase ... Read the full article
SEADRIF and WFP launch $1.1m parametric insurance policy in Lao PDR
8th May 2026
SEADRIF Insurance Company and the United Nations World Food Programme (WFP) have launched a parametric insurance policy in Lao PDR, providing up to $1.1 million in pre-arranged financing to support communities affected by extreme weather events and other natural hazards promptly. The policy brings together government, humanitarian, and disaster risk financing ... Read the full article
NormanMax appoints Nick Burkinshaw as Chairman of its Lloyd’s Syndicate 3939 Advisory Board
7th May 2026
US domiciled parametric insurer and reinsurer, NormanMax Insurance Holdings, has appointed Nick Burkinshaw as Chairman of the NormanMax Syndicate 3939 Advisory Board, supporting the firm's pure parametric global syndicate at the specialist Lloyd's marketplace. Burkinshaw is a highly respected underwriting leader in the market, and brings over 30 years of global ... Read the full article
Lagos State government secures up to USD 7.5m parametric flood insurance
27th March 2026
The Lagos State government has contracted a parametric flood-risk insurance policy in the Nigerian insurance market, designed to protect up to 4 million vulnerable people, providing up to USD 7.5 million for flood response and recovery. The policy’s activation represents a crucial achievement for the Tripartite Agreement Programme, which aims to ... Read the full article
Multi-source data key to parametric flood insurance success: Swiss Re
26th March 2026
Global reinsurer Swiss Re has emphasised that parametric flood solutions relying on data from multiple sources, including advanced sensors, will be key to their success, improving reliability, reducing basis risk, and strengthening confidence. Flood risk is among the most prevalent weather-related hazards, impacting nearly one-third of the global population. However, despite ... Read the full article
Vortex launches direct access to parametric hail insurance product
26th March 2026
Vortex Weather Insurance, a provider of parametric weather insurance solutions, has launched direct access to HailSafe, its parametric hail insurance product. HailSafe can now be purchased directly from Vortex by brokers and weather-exposed businesses, including open car lots, solar farms, commercial roofs, and agricultural operations, after previously being available only through ... Read the full article
ISF supports parametric insurance scheme to protect Indonesia’s coffee and cocoa farmers
18th March 2026
The InsuResilience Solutions Fund (ISF) is co-funding the development and implementation of a national parametric insurance scheme designed to protect Indonesia’s coffee and cocoa farmers from the escalating risks of climate change. The initiative is a collaborative effort with Blue Marble Microinsurance, a London-based InsurTech company, and PT Asuransi Jasa Indonesia ... Read the full article
Guy Carpenter names FloodFlash co-founder Ian Bartholomew as Global Head of Parametric Advisory
17th March 2026
Reinsurance Broker Guy Carpenter has hired Ian Bartholomew PhD, Co-Founder and former Chief Underwriting Officer of parametric flood insurer, FloodFlash, as Global Head of Parametric Advisory. Dr. Bartholomew takes on his new role at Guy Carpenter on June 1st, 2026. He will be based in London and will report to David ... Read the full article
Fitch downgrades ARC’s ratings on sustained earnings volatility
16th March 2026
Fitch Ratings has downgraded African Risk Capacity (ARC Ltd.)’s Insurer Financial Strength (IFS) Rating to ‘BBB+’ from ‘A-’ and its Long-Term Issuer Default Rating (IDR) to ‘BBB’ from ‘BBB+’, reflecting a decline in the firm’s standalone credit quality, which has been revised to ‘bb+’ from ‘bbb-’. The revision of the parametric ... Read the full article
Descartes names Cripps as Business Development Associate, Australia
9th March 2026
Descartes Underwriting, a specialist in corporate parametric re/insurance solutions for climate and emerging risks, has appointed Will Cripps as a Business Development Associate, further expanding its Australian operations. Cripps joins the Sydney-based team, bringing specialist expertise in the agricultural sector. In the past, he has gained extensive experience deploying IoT sensors across ... Read the full article
Madagascar secures $29m parametric payout following tropical cyclones
5th March 2026
Following tropical cyclones Fytia and Gezaniver, which affected more than half a million people and caused widespread damage to infrastructure, livelihoods and essential services across several regions of Madagascar, $29 million has been mobilised to support response and recovery efforts through a combination of pre-arranged parametric financing solutions facilitated by ... Read the full article
Four leading development risk pools consider joint reinsurance and risk finance platform
2nd March 2026
The four leading development insurer parametric risk pools — Pacific Catastrophe Risk Insurance Company (PCRIC), African Risk Capacity (ARC), Caribbean Catastrophe Risk Insurance Facility (CCRIF SPC), and Southeast Asia Disaster Risk Insurance Facility (SEADRIF) — have agreed to examine the feasibility of a shared risk finance and reinsurance platform designed ... Read the full article
Mosaic and Munich Re introduce AI-specific insurance for developers
27th February 2026
Mosaic Insurance, a specialist insurer, has partnered with Munich Re, an international reinsurer, to offer a new insurance product tailored to the needs of AI providers. The scheme draws on Munich Re’s aiSure platform, a recognised tool for evaluating AI risks, to cover exposures not typically addressed by conventional cyber or ... Read the full article
Blue Marble makes ‘largest ever’ parametric payout to smallholder farmers in Indonesia
26th February 2026
Blue Marble, a firm that provides insurance protection for underserved communities, has reportedly made the largest parametric insurance payout ever recorded to smallholder farmers in Indonesia, with all 2,719 farmers enrolled in the program receiving payouts and total claims exceeding IDR 2.4 billion. According to Blue Marble, the recent floods in ... Read the full article
Liberty Mutual and Floodbase launch instant parametric flood quoting tool for US market
24th February 2026
Liberty Mutual, a US insurance provider, and Floodbase, a platform specialising in flood risk solutions, have launched an instant quoting application for parametric flood reinsurance in the United States. The tool enables wholesale and retail brokers to price parametric flood cover within minutes, simplifying a process that has traditionally been complex ... Read the full article
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