Reinsurance News
winter storm
US winter storms to hit Q1 profits with primary insurers expected to absorb losses: AM Best
26th February 2026
Losses from two major winter storms in the United States - Fern in January and Hernando in February - are expected to result in a significant decline in underwriting profits for the first quarter of 2026, but the impact will be less severe than the California wildfires of 2025, according ... Read the full article
Primary insurers to absorb up to $7bn Winter Storm Fern industry loss: Fitch
6th February 2026
Credit ratings agency, Fitch Ratings, expects Winter Storm Fern to incur insured losses of between $4 billion and $7 billion, with primary insurers poised to absorb the event as while damaging, Fitch notes that it was not large enough to reinsurance attachment points. Fern caused subfreezing temperatures, heavy snow, and freezing ... Read the full article
Industry losses from Winter Storm Fern could reach $4bn: Verisk
4th February 2026
Verisk, a global data analytics and technology provider to the insurance industry, has estimated insured industry losses to property and auto from Winter Storm Fern to reach $4 billion, largely driven by freeze impacts, with supplemental losses from wind and snow. The early results from Verisk’s updated U.S. Winter Storm Model ... Read the full article
Aon estimates insured & economic losses from ‘historic’ winter storm to top $1bn
30th January 2026
Aon has revealed that total economic and insured losses will likely exceed $1 billion from the historic winter storm that severely impacted a large part of the United States and eastern Canada on January 23-26. Providing some meteorological background for the event, Aon explained that on January 23, a deep, elongated ... Read the full article
BMS expects Winter Storm Fern to drive hundreds of millions in insured losses
28th January 2026
The January 2026 winter storm impacting a large swath of the US (labelled Fern by The Weather Channel) has set various records across winter weather perils and is expected to generate several hundreds of millions of dollars in insured losses, according to independent re/insurance broker BMS. Winter Storm Fern has affected ... Read the full article
KCC releases US Winter Storm Model Version 3.0
19th November 2025
Karen Clark & Company (KCC), a provider of catastrophe risk modelling solutions, has released Version 3.0 of its US Winter Storm Model. The model captures two types of winter storms: extratropical cyclones (ETCs) and Arctic air outbreaks. North American ETCs are large low-pressure systems, such as Nor’easters, that cause damage primarily ... Read the full article
Prolonged winter storms in US result in cat losses exceeding hundreds of millions of USD: Aon
29th January 2024
With the cumulative effects of the winter storms across the United States, total economic and insured losses are anticipated to surge into the hundreds of millions USD, possibly higher, according to Aon’s latest weekly cat report released on January 26, 2024. Severe winter storms have besieged the US for three consecutive ... Read the full article
Changing climate increasing challenges for California re/insurers: AM Best
2nd March 2023
A new report from AM Best cites that the latest winter storm that has been affecting Southern California underscores the growing risk of financial volatility that weather-related losses pose for the insurance industry. The report highlights that the recent winter storm in California – the nation's largest state by population and ... Read the full article
US winter storm likely to drive multi-billion re/insured loss
28th December 2022
Global insurers and reinsurers look set to incur costs stretching into the multi-billion-dollar range from the ongoing winter storm and severe cold weather impacting the United States and Canada. The storm, which has been labelled the “blizzard of the century,” has brought record low temperatures to parts of Montana, Pennsylvania, and ... Read the full article
Jefferies pegs 2021 insured cat losses at $122bn+
8th February 2022
2021 has proven to be the fifth consecutive year of above average claims from natural catastrophes, with insured losses totalling $122.4 billion, primarily due to the quantity of medium-sized losses across multiple perils and regions, according to analysts at Jefferies. Jefferies also expects that with insured losses at 58% above average, ... Read the full article
RenRe expects to report Q1 net loss on $180mn winter storm Uri loss
15th April 2021
RenaissanceRe Holdings Ltd. (RenRe), the Bermuda-based reinsurance company, expects to report a net loss for the first-quarter of 2021, with losses related to Winter storm Uri forecast to have a net negative impact of $180 million on its results of operation for the period. The Uri losses are net, so after ... Read the full article
AXIS pegs Q1 catastrophe and weather losses at up to $115mn
15th April 2021
Bermuda-based insurer and reinsurer, AXIS Capital Holdings Limited, estimates net losses from catastrophes and other weather-related events in the range of $105 million to $115 million, pre-tax, for the first-quarter of 2021. Between $80 million and $90 million of the pre-tax net loss estimate relates to Winter Storms Uri and Viola, ... Read the full article
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