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.
SiriusPoint to provide Arden with capacity for new US wildfire parametric solution
13th August 2025
Bermuda-based insurer and reinsurer SiriusPoint has partnered with Arden Insurance Services LLC, a United States-based commercial property managing general underwriter (MGU), as a capacity provider for the MGU's newly launched wildfire-exposed risks program, which includes embedded parametric coverage. Arden’s new Consolidated Fire Insurance Policy (CFIP) will initially be offered in California, ... Read the full article
Africa Re launches Index-Based Livestock Insurance product in Nigeria
8th August 2025
Africa Re, in collaboration with the Livestock Productivity and Resilience Support Project (L-PRES), a consortium of insurance providers, and development partners, has launched an Index-Based Livestock Insurance (IBLI) product in Nigeria. The product was officially introduced at an event on July 24th, 2025, at the Transcorp Hilton in Abuja. The launch ... Read the full article
NDF boosts parametric hurricane protection with increased risk capacity for Corp-EFF
4th August 2025
The Natural Disaster Fund (NDF), managed by the Global Parametrics team (a CelsiusPro Group company), has expanded access to parametric hurricane protection by increasing its risk capacity allocation to Corp-EFF Insurance Company Limited. NDF has provided USD 4.7 million to expand the Flexible Hurricane Protection (FHP) programme, launched in 2022 to ... Read the full article
Aon reports expanding insurance capacity amid rising global risks
30th July 2025
Aon, a global insurance and reinsurance broker, has released its Q2 2025 Global Insurance Market Insights, highlighting a notable phase in the insurance market where increased capacity and softening rates are coinciding with intensifying systemic threats. According to Aon, market conditions in the second quarter were broadly favourable for buyers, with ... Read the full article
Swiss Re establishes parametric Centre of Excellence under Marcel Andriesse’s leadership
23rd July 2025
Swiss Re’s Property & Casualty Reinsurance (P&C Re) business unit has launched a Parametric Centre of Excellence, led by Marcel Andriesse, to unify and enhance the firm’s capabilities in parametric solutions across the organisation. According to the firm, the new Parametric Centre of Excellence will be housed within Global Specialty – ... Read the full article
Floodbase launches solution to allow continuous flood mapping across the US
23rd July 2025
Floodbase, a platform focused on insuring flood risks beyond traditional coverage, has launched near-real-time flood mapping technology for the United States to help governments, insurers, media, and other decision-makers obtain rapid situational awareness and actionable information, which can now be licensed on-demand per event. This launch marks a significant step forward ... Read the full article
HDI Global highlights importance of ART with Board-level integration
22nd July 2025
HDI Global underscores the strategic importance of Alternative Risk Transfer (ART) by integrating its Risk Finance solutions at Board level under Dr Dirk Höring, following the successful development of its HDI Enablers unit. As risks become more complex, complementing traditional insurance products with effective ART solutions is gaining momentum. HDI Enablers, established ... Read the full article
Tonga renews parametric reinsurance with PCRIC to boost disaster resilience
18th July 2025
The Kingdom of Tonga has strengthened its disaster risk financing by renewing its parametric reinsurance policies with the Pacific Catastrophe Risk Insurance Company (PCRIC), which includes a significant increase in the government’s premium contribution, from USD 125,000 to USD 1 million. This renewed policy is expected to provide comprehensive coverage of ... Read the full article
Gallagher Re structures and places $16m multi-peril parametric policy for SEADRIF and Lao PDR
18th July 2025
Reinsurance broker Gallagher Re, on behalf of the Southeast Asia Disaster Risk Insurance Facility (SEADRIF Insurance Company), has structured and placed a re/insurance programme for the government of Lao PDR. The two-year policy expands the original 2021 flood-only placement to include additional perils such as typhoons, earthquakes, and landslides. It was ... Read the full article
IDF develops parametric flood insurance product for Lagos
17th July 2025
The Insurance Development Forum (IDF), in collaboration with the United Nations Development Programme (UNDP) and the German Federal Ministry for Economic Cooperation and Development (BMZ) through the InsuResilience Solutions Fund (ISF), has completed the design of a parametric flood insurance solution for the Lagos State Government in Nigeria as part ... Read the full article
HDI Global SE and Descartes Underwriting approved to offer parametric earthquake insurance in Japan
14th July 2025
HDI Global SE’s Japan branch, part of Germany-based insurer Talanx AG, has been approved by the Japanese Financial Services Agency to introduce a parametric earthquake insurance product to the Japanese market. To create this product, HDI Global worked with Descartes Underwriting SA (headquartered in Paris, France), a provider of parametric insurance ... Read the full article
CCRIF launches microinsurance initiative with CelsiusPro & Global Parametrics
9th July 2025
CCRIF SPC, formerly the Caribbean Catastrophe Risk Insurance Facility, has partnered with CelsiusPro and its subsidiary Global Parametrics to launch a new initiative, the CCRIF Microinsurance Facility, which includes a digital insurance administration tool known as the White Label Platform. According to the CCRIF, this platform will enable multiple insurance companies ... Read the full article
Swiss Re & UNDP collaborate on parametric coral reef insurance for Indonesia
8th July 2025
Supported by the Ocean Risk and Resilience Action Alliance (ORRAA) through the UK’s Blue Planet Fund, the United Nations Development Programme’s (UNDP) Insurance & Risk Finance Facility (IRFF) is partnering with Swiss Re and the Indonesian government to develop a long-term insurance solution that protects and restores coral reefs. UNDP explained ... Read the full article
The next challenge is to make parametric solutions a mainstream climate finance tool: NDF
4th July 2025
The Natural Disaster Fund (NDF), a public-private partnership managed by Global Parametrics, a CelsiusPro Group company, has gathered increased recognition for its innovative approach to provisioning parametric risk transfer coverage in fragile states. By providing parametric risk capacity, the NDF helps support local and international actors in offering risk transfer solutions ... Read the full article
Descartes expands US Flood offer with new parametric product
26th June 2025
Descartes Underwriting, a specialist in corporate parametric insurance solutions for climate and emerging risks, has launched a new fully customisable Flood-at-Location parametric flood insurance product for US commercial customers. Backed by extensive research in flood modelling and advanced sensor systems, Descartes noted that its new product upends the traditional approach to ... Read the full article
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