convective

Groupama’s sponsorship of its latest catastrophe bond, the €120 million Quercus II Re DAC issuance, demonstrates the firm’s capacity for innovation and highlights the importance of partnerships across the insurance-linked securities (ILS) space, according to Pierre Lacoste, Reinsurance Director of Groupama Group.

Moody’s has announced that it has launched its North America Severe Convective Storm HD Models, which according to the firm redefines the standard for assessing tornado, hail and wind risk.

The Demex Group, a risk analytics and intelligence company, has announced a series of promotions within its leadership team, including the promotion of Michael Anderson as its new Chief Executive Officer (CEO), as the firm positions itself for growth as demand continues to rise for its aggregate severe convective storm (SCS) reinsurance solution.

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.

Severe convective storm (SCS) activity across the United States has now cost the insurance and reinsurance industry more than $20 billion in 2025, broker Gallagher Re estimates, with its Chief Science Officer Steve Bowen highlighting that the May 14th to 20th outbreak could drive insured losses of up to $7 billion.

Due to the extensive tornado, hail, and wind damage across the central and eastern United States, global insurance and reinsurance broker Aon has indicated that a recent outbreak could be among the most expensive severe weather events in U.S. history on an inflation-adjusted basis.

A severe weather outbreak across the US midwest over the last few days is likely to have created more than $5 billion in losses for the insurance and reinsurance industry, perhaps making this outbreak the largest severe weather loss event of 2025 so far, according to BMS Group Senior Meteorologist Andrew Siffert.

Severe convective storm (SCS) losses in the United States drove insurance and reinsurance market losses of $50 billion to $60 billion in 2023, but while this was above-average, risk modeller Karen Clark & Company warns that annual losses from the peril could be much higher.

Industry insured losses from severe convective storms in the United States have already exceeded $31 billion, which makes 2024 one of the top-4 most costly years for the peril already, according to Steve Bowen, Chief Science Officer at reinsurance broker Gallagher Re.

With insurance industry losses from US severe weather events having already surpassed $10 billion this year and the toll from many events still being calculated, Andrew Siffert, Senior Meteorologist at insurance and reinsurance broking specialist BMS, has warned that forecasts for the coming days and weeks could take the toll on par with last year.