Reinsurance News

Catastrophe reinsurance pricing for programs in the United States is seeing “material softening” in minimum rates-on-line, broker Gallagher Re has said, as reinsurers “abandon” the need for top-layer pricing to exceed the risk-free rate.

Leaders of 10 multilateral development banks (MDB’s) announced steps to collaborate more effectively to increase the impact and scale of their work, in order to tackle urgent development challenges, including addressing the growing need for disaster risk insurance and in climate risk financing.

The insurance industry loss from October 2023’s European windstorms Babet and Aline is now estimated to be €691 million by catastrophe data aggregator PERILS AG, with a slight increase to its previous figure.

Early signs suggest that the Florida catastrophe reinsurance renewals at June 1st 2024 will see improved conditions for cedents, as capital has flowed in and reinsurer appetites have recovered, according to Marsh McLennan CEO John Doyle.

Arbol, a technology-led underwriter of parametric risk transfer, climate and weather insurance or reinsurance business, has established Lilypad Insurance as a homeowners specialist carrier and the subsidiary has acquired Centauri Insurance from Applied Underwriters.

Having recently spent time meeting with the insurance-linked securities (ILS) market at the SIFMA annual conference in March and caught up with other market participants since, we come away with a feeling that the ILS market remains keenly focused on holding onto gains made in recent years, with no ambition to revert back to the […]

For private equity investors, the use of alternative capital vehicles and insurance-linked securities (ILS) structures presents a mature way to take advantage of reinsurance market cycles in an efficient manner, analysts at BMO Capital Markets have highlighted.

US primary insurer Travelers recorded catastrophe losses, net of reinsurance, of $712 million in the first quarter of 2024, up 33% year-on-year as a result of continued severe wind and hail activity across parts of the US, the company announced today.

Global insurance and reinsurance industry losses from natural catastrophes in the first quarter of 2024 were 10% higher than the most recent 10-year average at $20 billion, amid a continuation of high severe convective storm (SCS) activity in the US, according to reinsurance broker Gallagher Re.

Analysts at Goldman Sachs have noted that 2024 is going to be a year where they will be focusing on the potential for inflows of alternative capital or new entrant formation to change the dynamic across reinsurance and specialty insurance markets.