Reinsurance News

Tremor Technologies, the insurtech with a technology-based programmatic insurance and reinsurance risk transfer marketplace, has achieved a milestone in signing up all of the major reinsurance broking firms to use its platform.

China’s province of Henan has been hit by what is being termed a 1-in-1000 year flood event, after a year’s worth of rainfall fell in just three days. But the insurance and reinsurance market claims impact may be most severe on the auto side, rather than property claims, while supply-chain disruption could also be a […]

Yesterday we reported that data from satellite specialist ICEYE showed that upwards of 43,400 buildings were estimated to have been impacted by the recent severe flooding across Europe.

Heritage Insurance Holdings, Inc., the Florida headquartered, nationally expansive U.S. property casualty insurer, has pre-announced $35.5 million of weather losses from the second-quarter of the year, while also saying it has had to reinstate its severe convective storm reinsurance cover.

Global insurance and reinsurance market losses from natural disasters and catastrophes are estimated to have reached $42 billion for the first-half of 2021 by broker Aon, which is 2% higher than the 10-year average.

The German insurance association, the GDV has said today that it estimates insurance market losses just for flood damage in the North Rhine-West­pha­lia and Rhi­ne­land-Pala­ti­nate regions will be between EUR 4 billion and EUR 5 billion.

Qualifying catastrophe losses through the first-half of 2021 have now eroded through roughly 79% of US primary insurer Travelers retention for its aggregate catastrophe reinsurance layer.

The Bermuda Monetary Authority (BMA), the financial regulator for one of the world’s most important insurance and reinsurance markets, has announced a change at the top, as its current Deputy CEO Craig Swan will take over the CEO role from October 1st, with current CEO and Executive Chairman Jeremy Cox set to depart.

Upwards of 43,400 buildings are estimated to have been impacted by the recent severe flooding in Europe, a minimum 7,500 of which are thought to have been impacted by high flood waters and so likely will drive relatively significant insurance claims, data from ICEYE shows.

Alternative reinsurance capital levels, largely from insurance-linked securities (ILS), has once again increased over the last quarter of record as reported by broker Aon, to reach $96 billion as of the end of March 2021, with collateralized reinsurance returning to growth.