Reinsurance News

France-headquartered global re/insurer AXA has announced that its ceded reinsurance teams from across the entire Group, including AXA XL are coming together under the leadership of Guy Van Hecke, as the firm looks to align strategies and recognise synergies in its reinsurance buying.

Across the entire roughly $4.49 billion reinsurance risk transfer tower of Florida’s Citizens Property Insurance Corporation the capital markets have taken their largest share proportionally in 2025, with around 87% of the total backed by catastrophe bonds, collateralized reinsurance markets and ILS fund managers.

Insurance solutions provider Orion180 has increased its reinsurance tower by 31% year-over-year, reaching $845 million of limit for the 2025 hurricane season. The completed placement includes both excess-of-loss (XOL) and net quota share agreements, reflecting the company’s continued growth in high-risk, catastrophe-exposed markets.

Florida’s Citizens Property Insurance Corporation has confirmed that it has successfully completed its reinsurance renewal for the 2025 hurricane season, securing the targeted traditional and catastrophe bond coverage for less than the budget that had been set.

Kingstone Companies, the New York and northeast US focused insurance group, has increased its catastrophe reinsurance limit by 57% at its renewal, securing a $440 million tower for 2025, with its recently completed debut 1886 Re Ltd. (Series 2025-1) catastrophe bond assisting in this expansion of core protection.

While the reinsurance market and its pricing would be expected to re-firm after any large hurricane losses suffered during the 2025 season, it is not expected to drive a severe market hardening as was seen after 2022, according to analysts at investment bank Jefferies.

As per Verisk’s latest Quarterly Property Report, claims volume in the U.S. and Canada continued to decline in the first quarter of 2025, reaching a five-year low, even amid significant weather events across several regions.

US insurer Allstate has announced an estimated pre-tax catastrophe loss burden for the month of May 2025 of $777 million, which when added to the cat losses from April takes the total for its 2025 annual risk period for its aggregate catastrophe bonds to $1.37 billion.

Descartes Underwriting, the parametric risk transfer specialist, has secured a strategic investment from Battery Ventures, a global technology-focused global investment firm.

For AIG its deeper partnership with asset manager Blackstone, which was established with the launch of a multi-year reinsurance sidecar-like syndicate last year, represents a way to optimise for the most efficient capital and an opportunity to generate sizeable fee income, according to Charlie Fry, EVP Reinsurance & Risk Capital Optimization.