Reinsurance News

The catastrophe bond market is playing an increasingly important role in the Florida reinsurance landscape, as growing investor appetite drives competitive pricing and offers much-needed capacity relief for carriers, according to Randy Fuller, Managing Director at Guy Carpenter.

American Coastal Insurance Company (AmCoastal) has successfully renewed its core catastrophe reinsurance program for 2025/26 with first event limit now extending to an estimated higher $1.33 billion, as it secured 4% more in coverage for roughly $1.676 billion of occurrence-based limit in the aggregate.

Lockton Re, the reinsurance arm of the independent brokerage, has announced the hiring of David Baldwin who joins the company in London as a Senior Retrocession and Property Specialty broker.

Reinsurance broker Gallagher Re has announced the appointment of Ben Lyon as Head of Capital Advisory in London, and Chief Executive Officer (CEO) of Gallagher Securities Limited, the UK-based entity of the firm’s insurance-linked securities (ILS) and capital markets broker-dealer division.

Florida’s specialist personal property insurers entered the key 2025 mid-year reinsurance renewals from a position of relative strength, following improved profitability and more favourable operating conditions, according to a new report from credit ratings agency AM Best.

The final week of May brought a wave of damaging severe convective storms and flooding across the southern United States, with insured losses likely to reach into the billions, according to global insurance and reinsurance broker Aon.

Palomar Insurance Holdings, the speciality US insurer that offers largely catastrophe exposed property products, has lifted the top of its reinsurance tower to provide as much as $3.53 billion of earthquake reinsurance protection at the renewals, with multi-year catastrophe bonds set to provide 33% of that total for 2025.

Universal Insurance Holdings, Inc. has bought $110 million more in reinsurance limit at its 2025 renewal, taking the top of the reinsurance tower for its subsidiaries to $2.526 billion, with ILS manager Nephila Capital once again cited as a key counterpart.

American Integrity Insurance Company renewed a meaningful $799 million increase in reinsurance limit this year, helped by its latest and largest catastrophe bond to-date, resulting in a reinsurance tower that now extends to $2.59 billion and features more cat bond protection.

According to Howden Re, the reinsurance broking arm of Howden, risk-adjusted property catastrophe reinsurance rates-on-line fell in a range from flat to down 20% at the June 1st renewals, with ILS capacity said to be adding flexibility and competitive tension in top-layers.