Reinsurance News

Global reinsurance firm SCOR said that the April renewals saw the company growing into a market that is softening and the company anticipates the mid-year renewals being competitive for loss free accounts, but it also anticipates being able to sustain the profitability of its business.

At a Board meeting of the Texas Windstorm Insurance Association (TWIA) today, attendees heard that the catastrophe bond and reinsurance placement for 2025 is “looking good” while also noting that the projected rate-on-line (RoL) for the placement looks to be lower than the prior year, as the market has softened somewhat.

Broking giant Aon has promoted long-standing senior employee Amanda Lyons to Chief Executive Officer (CEO) of its Reinsurance Solutions unit in Bermuda, effective July 1st, subject to regulatory and immigration approvals.

RenaissanceRe, the Bermuda based reinsurance firm and third-party capital specialist, is anticipating that its assets under management (AUM) across its joint-ventures and ILS funds will be “stable to up” over the rest of 2025, while fee income should resume its typical run-rate over the coming quarters.

Louisiana lawmakers are considering House Bill 672 (HB 672), a proposal to establish a state-run catastrophe reinsurance program aimed at addressing rising insurance costs in high-risk areas. Central to the bill is a funding mechanism involving state-issued bonds, which the bill refers to as catastrophe bonds, however, recent industry feedback has cast doubt on both […]

The ice storm that struck Ontario and Quebec between March 28th and 31st, is estimated to have resulted in an insurance industry loss of CAD $342 million, according to CatIQ, Canada’s insured loss and exposure indices provider.

Everest Group CEO Jim Williamson expects the upcoming mid-year reinsurance renewals to present meaningful opportunities for growth, driven by strong demand for property catastrophe coverage and healthy expected returns, with terms expected to hold but some moderation in pricing from recent highs.

Bermuda-based insurance and reinsurance companies are projected to incur gross claim losses nearing US$10 billion stemming from the catastrophic wildfires that swept through Southern California in January 2025, as they make payments to help U.S. policyholders and cedants recover, says the Bermuda Monetary Authority (BMA).

With Florida’s Citizens Property Insurance Corporation now aiming to upsize its new catastrophe bond issuance to between $1.4 billion and a record $1.525 billion in size, while its overall target for reinsurance has fallen slightly to $4.49 billion, once in-force cat bonds are added to the new issuance, the cat bond market could make up […]

Hiscox CFO Paul Cooper said today there remains “healthy interest” in catastrophe bonds at higher layers of the reinsurance tower, but also noted that the effect of the California wildfires could weigh on ILS fund performance fee income in both the organisation’s H1’25 and FY’25 results.