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.
Mexico partners with LM Re for new parametric earthquake and volcanic insurance program
22nd June 2026
The Mexican federal government, through its sovereign disaster risk financing strategy, has deployed a nationwide parametric earthquake and volcanic risk insurance with Liberty Mutual Reinsurance (LM Re), part of Liberty Mutual Insurance Group, acting as the lead capacity provider. This parametric insurance solution, brokered by Augment Risk and domestic broker TBS, ... Read the full article
Descartes Underwriting secures Lloyd’s coverholder status through agreement with OAK Global
16th June 2026
Descartes Underwriting, a global provider of parametric insurance solutions, and OAK Global, a specialist risk and underwriting partner, have announced that Descartes has been granted Coverholder status at Lloyd’s, the world's oldest insurance and reinsurance marketplace. Under a newly established binding authority agreement, Descartes Underwriting will write business through OAK Global’s ... Read the full article
Liberty and ICEYE launch new parametric wildfire insurance solution
15th June 2026
As wildfires increase in frequency and severity, Liberty Mutual Reinsurance and ICEYE, a provider of satellite-based disaster management solutions, have partnered to launch a new parametric wildfire insurance solution. This collaboration addresses the urgent need for faster risk solutions for wildfire-prone communities, leveraging high-resolution satellite data to provide immediate, rapid payouts ... Read the full article
Augment Risk outlines parametric opportunity as 2026 World Cup kicks off
12th June 2026
With the 2026 FIFA World Cup underway, Augment Risk has highlighted a range of weather-related hazards across host locations, prompting insurers to increasingly turn to parametric solutions that provide rapid liquidity when predefined conditions are triggered. Global, specialist reinsurance broker Augment Risk has identified extreme heat as a widespread concern affecting ... Read the full article
Descartes and Nextpower launch parametric insurance solution for extreme wind conditions
12th June 2026
Descartes Underwriting, a specialist in corporate parametric re/insurance solutions for climate and emerging risks, and Nextpower™, a provider of solar and power technology solutions for utility-scale power plants, have partnered to launch an integrated parametric insurance solution for extreme wind conditions. By leveraging site-level wind data from Nextpower meteorological stations, this ... Read the full article
Guy Carpenter appoints parametric specialist Rowan Minhas to emerging risk solutions team
11th June 2026
Guy Carpenter, the reinsurance broking arm of Marsh, has appointed Rowan Minhas to its Emerging Risk Solutions team, where he will focus on parametric reinsurance. Minhas joins Guy Carpenter after nearly four years with Miller Insurance Services LLP, where he most recently served as an Account Handler/Broker within the firm's Parametric ... Read the full article
Mexico lifts 2026–2027 parametric-led insurance cover to $596.3m
10th June 2026
The Mexican government is strengthening its commitment to protecting the population from natural disasters by renewing its 2026–2027 catastrophe insurance programme and doubling the insured sum to 10.4 billion pesos (US $596.3 million). According to a government announcement, the renewal will expand the State’s capacity to protect public assets and provide ... Read the full article
CCRIF lifts coverage 9% to $1.57bn for current policy year as membership expands
5th June 2026
Ahead of the annual hurricane season, CCRIF SPC, formerly the Caribbean Catastrophe Risk Insurance Facility, said it has expanded coverage to $1.57 billion for the current policy year, from $1.44 billion a year earlier, driven by a 17% increase in coverage across its Caribbean portfolio and an 18% increase in ... Read the full article
SEADRIF and FAO launch drought parametric insurance pilot in Lao PDR
1st June 2026
The SEADRIF Insurance Company and the Food and Agriculture Organization of the United Nations (FAO) have launched an anticipatory drought insurance pilot in Lao People’s Democratic Republic (Lao PDR). The initiative marks the first time a Southeast Asian government has secured a parametric insurance framework specifically designed to deploy pre-arranged finance ... Read the full article
Gallagher introduces parametric flood cover for golf courses in partnership with FloodFlash
28th May 2026
Insurance broker and risk adviser Gallagher has developed a new parametric insurance solution aimed at helping golf courses mitigate financial disruption caused by flooding and severe weather. The product has been created in collaboration with FloodFlash, a NormanMax company that specialises in sensor-based parametric flood cover. Gallagher highlights that intense rainfall, storms, ... Read the full article
Somalia secures $5.5m drought parametric payout from ARC
28th May 2026
African Risk Capacity (ARC) has made a $5.5 million drought insurance payout in Somalia, triggered by confirmed parametric indices. The payout was made to the Government of Somalia (SODMA) (62.7% of the total), Start Network (21.5%) and WFP (15.8%). Combined, the three organisations have reportedly supported more than 153,000 people through the ... Read the full article
Willis and Global Parametrics confirm payouts under parametric policy for Vietnam coffee farmers
21st May 2026
Willis, a WTW business, and Global Parametrics, a parametric risk transfer provider part of CelsiusPro, have revealed that payouts of an "innovative" parametric policy have been distributed to coffee farmers in the Central Highlands of Vietnam who suffered losses due to high rainfall during the 2025/26 coffee growing season. Willis explained ... Read the full article
Jamaica secures new parametric hurricane cover via World Bank cat bond
19th May 2026
The Government of Jamaica has returned to the catastrophe bond market for a third time with an issuance from the World Bank’s International Bank for Reconstruction and Development (IBRD), renewing a key part of its disaster risk financing infrastructure after its second catastrophe bond was triggered and paid out ... Read the full article
QBE and K2 partner to expand property offering with new parametric coverage
19th May 2026
International insurer and reinsurer QBE has expanded its property offerings and included new parametric coverage through an enhanced partnership with K2. The re/insurer explains that this move is a direct result of the growth in complex catastrophic risks, which organisations are increasingly seeking innovative insurance coverage and solutions for. This collaboration builds ... Read the full article
Climate risk insurance is becoming essential for India’s workforce: Howden India’s Huq
19th May 2026
India is grappling with intense heatwaves driven by increased climate volatility, and the people bearing the brunt of these conditions are vulnerable workers who are unable to absorb repeated income shocks, making insurance for climate risk essential rather than optional, says Mohammad Faizan Huq. Huq is the Associate President - Reinsurance ... Read the full article
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