Reinsurance News

CatIQ, Canada’s insured loss and exposure index provider, has raised its insurance industry loss estimate from the severe thunderstorm event that affected parts of southern Ontario and southern Quebec, between June 30th and July 3rd, 2026, to CAD $439 million, a 17.5% increase from the firm’s initial loss estimate of $374 million.

Reinsurance giant Munich Re has reclaimed its spot at the top of AM Best’s ranking of the world’s largest reinsurers for companies that report under IFRS 17, while the specialist Lloyd’s marketplace has moved above Berkshire Hathaway to claim the top spot for non-IFRS 17 reinsurers, based on year-end 2025 figures.

Artemis has learned that Beazley, the London headquartered specialty insurance and reinsurance company, has partnered with specialist insurance-linked securities investment manager Integral ILS Ltd. to establish the awaited cyber ILS fund operation in Bermuda.

Mangrove Property Insurance Company, the Florida based specialist insurer, has secured a record-setting catastrophe reinsurance programme for the 2026 Atlantic Hurricane Season, which is set to provide protection against both the frequency and severity of catastrophe events, with coverage reportedly extending to a 1-in-175 year storm.

The Inter-American Development Bank (IDB) has successfully arranged its first sovereign parametric catastrophe swap transaction, securing $20 million of hurricane risk transfer for Belize, underwritten by global reinsurance firm Swiss Re.

According to reinsurance broker Gallagher Re, year-to-date industry losses from US severe convective storms in 2026 have accelerated and climbed above $35 billion, as the peril’s quieter start to the opening months of the year have since given way to prolific activity.

Global insurer AIG has expanded its cyber offering with the launch of a new parametric cloud outage solution developed in partnership with Parametrix, a provider of digital infrastructure insurance solutions.

A national adaptation plan produced for the government of south Pacific island nation Samoa calls for scaling up of parametric protection across the region, as well as for existing risk pools to cover more perils, while also suggesting a regional catastrophe bond should be planned to provide risk capacity in future.

Tropical storm Lala in the central Pacific could make the first United States hurricane landfall of 2026 this weekend, as the storm is forecast to intensify and has the Big Island of Hawaii in its sights.

As alternative reinsurance capital, so that deployed through insurance-linked securities (ILS) and related collateralized structures, continues to expand and gain momentum across the reinsurance market, this pace is expected to continue, and according to Laurent Rousseau of broker Guy Carpenter, this will lead to a greater space for financial investors.