Reinsurance News

Price Forbes Capital Markets, the investment banking and ILS capital raising unit of reinsurance broker Price Forbes Re, has hired Mike Ward from Artex Risk Solutions as Vice President of its Capital Markets team in Bermuda.

Nascent Re Ltd. a licensed reinsurance transformer owned and operated by Bermuda-based Nascent Group, has completed its first issuance of listed insurance-linked securities, as a €10 million tranche of OFS Re Series 2026-001 preferred shares have been admitted to the Bermuda Stock Exchange (BSX).

Severe convective storm (SCS) outbreaks across parts of the United States this week are anticipated to drive insurance market losses in the low to mid-single-digit range, according to initial analysis from reinsurance brokers Gallagher Re and Aon.

The Government of Jamaica has announced its intention to renew its Caribbean Catastrophe Risk Insurance Facility (CCRIF-SPC) parametric risk transfer coverage in May 2026. However, there has been no confirmation regarding the potential for any renewal of its World Bank-facilitated catastrophe bond.

Ernie Garateix, CEO of Heritage Insurance Holdings, Inc., the nationally expansive, Florida headquartered property and casualty insurer, anticipates the June reinsurance renewals offering his company a chance to secure incremental capacity and improved pricing.

Speaking today, Hannover Re’s Sven Althoff explained that softening trends seen in property catastrophe reinsurance are expected to continue through 2026, while he also said that the ongoing conflict in the Middle East could have ramifications for certain specialty lines the reinsurance firm underwrites.

Hannover Re has reported its full-year 2025 results this morning, with a meaningful increase to net income and clear growth in property and casualty risks, while on the large loss side insurance-linked securities (ILS) capital sources ended up supporting roughly 20% of the large losses it experienced.

Catastrophe data aggregator PERILS AG has published a fourth and final industry loss estimate of nearly AU $1.88 billion for Cyclone Alfred, which affected the Australian states of Queensland and New South Wales during the period of February 28 to March 12, 2025.

At the January 2026 reinsurance renewals, Fidelis Insurance Group added further efficiency to its aggregate protection for the year, in a renewal that saw meaningful rate reductions of around 20% for the company, according to Jonny Strickle, Group Managing Director of Fidelis Insurance Group.

The California Earthquake Authority’s (CEA) reinsurance program grew slightly to include limit of $7.912 billion at the end of 2025, while the catastrophe bond market was providing its largest share of the risk transfer tower ever, at 36% of total limit.