Reinsurance News

Global insurance and reinsurance player Everest Group has reported significantly increased cessions from its property catastrophe line of business to cells of its Mt. Logan Re Ltd. third-party capitalised sidecar-like structure in 2024.

Tropical Cyclone Alfred, the seventh named storm in the Australian cyclone season, is expected to drive economic and insured losses in the hundreds of millions of Australian dollars at least, according to insurance and reinsurance broker Aon.

HP Reinsurance SPC Ltd. (HP Re), a Cayman Islands based reinsurer, and Hale Partnership Capital Advisors has announced the hiring of Matt Walters as Chief Operating Officer (COO) of HP Re, as the firm continues to expand in both the reinsurance and retrocession markets.

Sven Althoff, Member of the Executive Board for Property & Casualty (P&C) of large European reinsurer Hannover Re said this morning that catastrophe bonds have been the main area of expansion for the company within the insurance-linked securities (ILS) space, noting that it is a “nicely growing part” of the firm’s business.

Global reinsurance company Hannover Re shared a much larger proportion of its large natural catastrophe losses with insurance-linked securities (ILS) capital sources in the final quarter of 2024, as the company ceded out more than half of its losses from hurricane Milton, with retrocessional arrangements seemingly playing a key role.

Reinsurance broker Gallagher Re recently launched its Cyber Risk Adjusted Rating (RAR) Index, revealing that its value was 100% higher on January 1st, 2025, compared to January 1st 2020, indicating higher rates-on-line, as the cyber market continues to grow amid an evolving risk landscape.

Florida’s Citizens Property Insurance Corporation, the state’s insurer of last resort, is aiming to purchase $2.94 billion of new traditional reinsurance and catastrophe bonds for the 2025 hurricane season, which would take its total risk transfer to $4.54 billion this year.

Lockton Re, the reinsurance arm of the global independent broker, has announced the hiring of senior reinsurance executive and advocator for insurance-linked securities (ILS) in Latin America, Rodrigo Botti, as its new Treaty Country Head of Brazil.

Third-party capital in the reinsurance market reached record highs in 2024, as broker Guy Carpenter, alongside rating agency AM Best estimated that it reached a substantial $107 billion at year-end, however, a key driver of the increase is the continued growth of the insurance-linked securities (ILS) market, which is the major component of third-party capital […]

The Lloyd’s insurance and reinsurance market has announced a $2.3 billion net loss estimate for the Los Angeles wildfires, as the market reports another solid year of underwriting profit and premium growth.