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.
ARC makes $5.4m parametric payout to support Mozambique’s climate disaster response
20th October 2025
In response to recent climate disasters, the 2024/25 drought and Tropical Cyclone Chido, the African Risk Capacity (ARC) Group made a combined parametric insurance payout of $5.4 million to the Government of the Republic of Mozambique and the World Food Programme (WFP). The Government of Mozambique received just over $1.8 million ... Read the full article
Parametric re/insurer NormanMax appoints Nick Griffiths as Chief Revenue Officer
9th October 2025
US based parametric insurer and reinsurer, NormanMax Insurance Holdings, has appointed experienced reinsurance and retrocession broker, Nick Griffiths, as its new Chief Revenue Officer. As reported by our sister publication, Artemis, Griffiths will work across all of NormanMax's platforms, bringing his more than 27 years of industry experience to the firm ... Read the full article
WTW introduces parametric policy triggered by red weather warnings
2nd October 2025
Willis, a WTW business, has launched a first-of-its-kind parametric policy that triggers automatically when a Red Weather Warning is issued by the UK Met Office or Met Éireann, the Irish National Meteorological Service. The policy was developed in collaboration with Swiss Re Corporate Solutions, which will act as the insurer. Red Weather ... Read the full article
Arbol launches new wildfire parametric product for Western states
25th September 2025
Continuing its expansion into further perils and geographies, Arbol has launched a new parametric wildfire insurance product for commercial and residential properties in high-risk wildfire regions in the U.S., with coverage limits up to $10 million. The firm's new wildfire parametric initiative, which will target California, Colorado, Arizona, and other Western ... Read the full article
Vortex launches parametric snow insurance
22nd September 2025
Vortex Weather Insurance has announced the launch of a parametric snow insurance aimed to protect companies against financial loss if a winter has too much or too little snow. The company’s snow risk policies are now available directly through Vortex. Previously, these were only available through Vortex's parent company MSI GuaranteedWeather. "We ... Read the full article
Swiss Re and Munich Re back newly launched CEI & Generali parametric solution
19th September 2025
Global insurer Generali and Conferenza Episcopale Italiana (CEI) have partnered to launch a new parametric insurance solution to protect parish entities in Italy's 226 dioceses from the impacts of natural catastrophes. Swiss Re and Munich Re are providing reinsurance capacity and expertise for this program, which also involves broking group Howden ... Read the full article
kWh Analytics closes Munich Re-backed parametric wind proxy hedge for Apex Clean Energy
18th September 2025
kWh Analytics, a provider of climate insurance and risk management for renewable energy projects, has closed a parametric Wind Proxy Hedge risk transfer deal, backed by Munich Re, for Apex Clean Energy’s 79MW wind project in Virginia. The financial structure utilised the kWh Analytics Indifference Structure for debt sizing, with Munich ... Read the full article
Stonybrook Risk provides parametric coverage for Caribbean-based client
17th September 2025
Stonybrook Risk Management, a wholly-owned subsidiary of Stonybrook Capital and licensed reinsurance intermediary, has completed a parametric insurance transaction for a Caribbean-based client. The transaction was led by parametric veteran Dan Butzbaugh and utilised a parametric solution to replace traditional insurance as per the needs of the client. The company explained, buyers ... Read the full article
Parametric insurance can be ‘transformational’ in narrowing protection gap: Aon
17th September 2025
Aon's Elizabeth Henderson has highlighted a $223 billion climate protection gap, warning that traditional insurance models are often too slow and complex to keep pace with fast-moving climate disasters, particularly in resource-constrained regions, while pointing to parametric insurance as a potential catalyst for transformational change. Aon's Global Head of Climate Advisory ... Read the full article
Miller announces parametric earthquake solution in partnership with SPG Canada & NormanMax
16th September 2025
Independent specialist re/insurance broker, Miller has partnered with Specialty Program Group Canada (SPG Canada) and NormanMax Syndicate 3939, to launch a new parametric earthquake solution which aims to address the growing concerns about the accessibility of earthquake insurance in the market. Under this partnership, Miller will facilitate a binder between the ... Read the full article
Syria gets $7.9m payout from drought parametric policy
11th September 2025
A parametric insurance policy has been triggered to provide relief to nearly 120,000 people in Syria after one of the country’s worst droughts in half a century, through an initiative funded by Humanity Insured as part of a wider public–private partnership with the World Food Programme (WFP), the Global Shield ... Read the full article
Innovation and technology key to narrowing protection gap: Henchoz at PwC RVS event
8th September 2025
Innovation, technology, and a culture of experimentation are essential for the reinsurance industry to close the protection gap, said Jean-Jacques Henchoz, Chairman of the Board at BMS Group and former Hannover Re CEO, speaking at PwC’s annual breakfast briefing during this year’s RVS in Monte Carlo. Despite industry efforts to narrow ... Read the full article
SEADRIF’s new parametric policy delivers $2m payout to Lao PDR
4th September 2025
The SEADRIF Insurance Company made a payout of $2 million to the Ministry of Finance of Lao PDR on 1st September 2025, under a first-of-its-kind policy that uses official government data on the number of people affected as the sole payout trigger, after 305,196 people were impacted by multiple disaster ... Read the full article
AXA and WTW launch parametric programme to protect Caribbean’s second-largest coral reef
29th August 2025
AXA COLPATRIA, AXA Climate, Fondo Acción, and WTW Alternative Risk Transfer, have jointly designed a parametric insurance programme to protect coral reefs in the Colombian Archipelago of San Andrés, Providencia and Santa Catalina. In this effort, the coalition of partners is being supported by the Ocean Risk and Resilience Action Alliance ... Read the full article
Mitsui Sumitomo Insurance launches parametric weather insurance product
29th August 2025
Mitsui Sumitomo Insurance, a subsidiary of MS&AD Insurance Group Holdings, has announced the launch of its new parametric insurance product, "Weather Insurance Index", a new offering designed to help insurers manage financial losses caused by severe or unusual weather. As a parametric solution, this new product has been designed to pay ... Read the full article
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