Reinsurance News

Faced with the possibility of “peak year” insured losses exceeding $300 billion, the Swiss Re Institute has suggested that the well-capitalised reinsurance sector, backed by $500 billion in capital, is pivotal to absorb large shocks.

Northern Re, the collateralized reinsurance company that provides investors with access to the returns of its long-tail casualty underwriting business, has announced raising an additional $100 million from existing and new institutional investor partners.

African Risk Capacity Limited (ARC Ltd) and Klapton Reinsurance Limited (Klapton Re) have signed a Memorandum of Understanding (MoU) to establish a new partnership aimed at expanding access to parametric climate insurance solutions across Africa.

Catastrophe data aggregator PERILS has now raised its insurance industry loss estimate for the extratropical windstorm “Éowyn” that impacted the Republic of Ireland, Northern Ireland and the Central Belt of Scotland during the period of January 24th – 25th 2025, increasing the total by 12.5% to EUR 696 million.

Having reported another quarter of double-digit revenue growth for its catastrophe bond and insurance-linked securities (ILS) related activities, Greg Case the CEO of broking giant Aon also highlighted parametric risk transfer as another area he sees activity levels as exceptional in.

Colorado lawmakers have taken a significant step toward reshaping the state’s insurance landscape by advancing legislation that would establish a state-run wildfire reinsurance facility, one that could tap into the catastrophe bond market to help manage growing climate-related risks.

Speaking today during his firm’s first-quarter earnings call, RenaissanceRe CEO Kevin O’Donnell explained that there is no indication the reinsurance market is trending back to pre-2023 levels, in rates and terms, while he now feels net new demand for property cat limit could be greater than $10 billion at the mid-year renewals.

Rates for property insurance are declining across the globe with abundant capacity in the sector and insurers now benefiting from cheaper reinsurance costs, all of which is softening the property insurance market, commentary from broker Marsh suggests.

RenaissanceRe, the Bermuda based reinsurance company and third-party capital manager, has raised almost $462 million in new third-party capital across its range of joint-ventures and insurance-linked securities (ILS) funds in the first-quarter of 2025, but the California wildfires saw losses shared with investors and dented the firms fee income for the period.

For full-year 2024, AXIS Capital ceded $323 million of prospective reinsurance premiums to its Monarch Point Re casualty insurance-linked securities (ILS) platform, which was an increase of 13% over the prior year. In addition AXIS earned an increased level of fees and commissions from the ILS structure.