insurance

The United Nations Office for Disaster Risk Protection (UNDRR) has published details of a proposal for a high-level Disaster Resilience Adaptation Financing (DRAF) structure that features an insurance-linked securities (ILS) vehicle, to support disaster risk insurance coverage and resilience adaptation financing.

CelsiusPro, the parametric insurtech, has announced that it has appointed 15-year industry veteran Isa Ennadifi, formerly of global insurers Allianz and AXA and reinsurer SCOR, as its new Group Chief Underwriting Officer (CUO).

Catastrophe data aggregator and industry-loss reporting service provider PERILS AG is to expand its coverage for severe convective storm (SCS) events and begin reporting insurance industry losses for SCS events in Europe, Japan and New Zealand.

Today’s soft market across insurance may be short-lived, as the global environment is volatile and systemic risks are rising, which means the opportunity for protection buyers may also not last, according to broker Aon.

The Natural Disaster Fund (NDF), the risk capital facility that allocates its funds to support parametric insurance arrangements and is managed by CelsiusPro’s Global Parametrics team, has increased its risk capital allocation to a Caribbean parametric hurricane product.

We’re waking to reports of Pacific basin-wide tsunami alerts having been issued by numerous countries after a magnitude 8.8 earthquake occurred near the Kamchatka Peninsula of Russia this morning.

The Los Angeles Department of Water and Power (LADWP), the largest municipal utility operating in the United States, has returned to the catastrophe bond market for its third time, seeking up to $150 million of wildfire protection from a 123 Lights Re Ltd. (Series 2025-1) issuance, Artemis has learned.

Reinsurance firm Munich Re has estimated that global insured losses from natural catastrophe events reached US $80 billion in the first-half of 2025, a figure some 95% above the 10-year average.

Catastrophe data aggregator PERILS has increased its insurance industry loss estimate for extratropical windstorm “Éowyn”, a storm that impacted the Republic of Ireland, Northern Ireland and the Central Belt of Scotland in early 2025, adding 7% to take the estimate to EUR 747 million.

Insurance industry losses from the wildfires that impacted the Municipality of Jasper and Jasper National Park in Alberta, Canada between July 22 and August 17, 2024 are estimated to have reached CAD $1.31 billion, according to CatIQ, Canada’s insured loss and exposure indices provider.